Indian IT Sector Growth Boom to End Due to Soaring Inflation, Supply Chain Issues, Predict JP Morgan Analysts
Soaring inflation, supply chain issues and the hit from the Ukraine war will bring an end to the growth boom India's IT services industry enjoyed during the pandemic, JP Morgan analysts said on Thursday as they downgraded the sector to "underweight".The $194-billion (roughly Rs. 15,068,27 crore) sector whose software services helped businesses adopt to pandemic-era practices of online shopping and remote working is facing a demand slowdown this year as employees return to offices and the Russia-Ukraine war weighs on…