Robust expansion for Indian IT in FY22

Consultation firm Fitch Ratings believes that Indian IT services companies will see a stronger revenue growth in the financial year ending March 2022 (FY22). It opines that the pandemic is not going to have any major setback for the sector in terms of revenue generation as revenue from India contributes only 4%-5% of the total revenue of these companies. It, however, adds that their operations may be affected if the number of COVID-19 patients keeps rising.
The consultancy has forecast top-tier Indian IT services companies, including Tata Consultancy Services Limited (TCS, A-/Negative), Infosys Limited, HCL Technologies Limited (A-/Stable) and Wipro Limited, to register a double-digit revenue growth in FY22.