Home / Economy / News / Covid-19 may slow India IT and business service growth to 6.5% in 2020: IDC

Covid-19 may slow India IT and business service growth to 6.5% in 2020: IDC

The IT and business services market grew by 8 per cent annually in the second half of 2019

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Amid the Covid-19 outbreak, project-oriented services, such as consulting, custom application development, systems integration, etc. are expected to reduce steeply.

Neha Alawadhi New Delhi

3 min read Last Updated : May 05 2020 | 3:33 PM IST

The Indian IT and business services market is expected to grow annually by 6.5 per cent to reach $14 billion by December 2020, with some impact from the ongoing Covid-19 pandemic, according to research firm International Data Corporation.

The IT and business services market grew by 8 per cent annually in the second half of 2019, according to IDC Worldwide Semiannual Services Tracker-2H19. The Indian software services industry body, National Association of Software and Services Companies (Nasscom), stopped providing a current year growth projection for the industry from 2019.

In FY2019-20, the IT-BPM (domestic and overseas) grew 7.7 per cent.

Topics : Coronavirus Lockdown Indian IT industry Indian Economy

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