IT services sector

There has been a notable surge in interest from global private equity (PE) firms and PE-backed entities in acquiring Indian information technology (IT) and software services companies.This is fuelled by a substantial increase in growth capital investments within the IT services sector by global PE funds, which was not prevalent earlier.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIM LucknowIIML Executive Programme in FinTech, Banking & Applied Risk ManagementVisitIIM…

The industry saw more than 40,000 job postings in the first five months of 2023, according to a report published by staffing firm TeamLease Digital on 21 June. However, it added that nearly 30% of them remained vacant despite strong demand and rising salaries for such roles. Experts say a shortage of skilled professionals for requisite roles, high attrition levels, and often-extreme stress levels is impacting the industry. Another report by TeamLease…

Most industry experts and analysts expected large-cap IT service providers to report drops in revenue growth, driven mostly by the banking, financial services and insurance (BFSI) sector’s slowdown in the North American market. BFSI accounts for a major chunk of the revenue earned by this sector — for instance, it accounted for ₹86,127 crore out of Tata Consultancy Services (TCS)’s total revenue of ₹2.25 trillion, or over 38%. In a press conference following the announcement of…