ITeS sector's growth prospects in FY23 augur well for SMEs: CRISIL

In FY22 the ITeS sector's revenue logged 13-15% growth to about Rs 3.1 tn, riding on volume recovery across the three key segments - customer relationship management (CRM), knowledge, and transactions

The information technology-enabled services (ITeS) sector is set to sustain its growth momentum in the current fiscal year (FY23) — a good augury for small and medium enterprises (SMEs), which account for 20-40 per cent of the sector’s revenue.

In FY22 the ITeS sector’s revenue logged 13-15 per cent growth to about Rs 3.1 trillion, riding on volume recovery across the three key segments — customer relationship management (CRM), knowledge, and transactions. (For the record, SMEs have major exposure to CRM.)

Exports accounted for around 90 per cent of the pie last fiscal, with CRM accounting for 37 per cent.