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As small deals dry up, Indian IT prepares to declare FY24 as a year of drought

By Andrew McCollum

Synopsis

IT growth spiked during the pandemic as companies spent big on smaller projects. Now, the flood of small deals has dried up, leaving large deals in the market. But because of how the different deals work, the shift has impacted IT-service revenue. For Indian IT, the dearth of small deals is going to make an already bad FY24 much worse.

For Indian IT companies and investors, good earnings used to come in small packages. Through the pandemic, growth boomed, and IT companies outperformed expectations, mainly as a result of companies unleashing an unprecedented wave of spending on smaller projects. There were, in fact, so many small projects flooding the market that IT companies couldn’t predict their own revenue. In December 2020, Accenture said its revenue for the

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Andrew McCollum 109721 posts 0 comments