Large parts of the global economy are struggling to grow. As a result, information technology, or IT, spending is likely to decline marginally by $17 billion to $3.49 trillion in 2016, according to a forecast by Gartner, a research and advisory firm. However, Indian IT companies, a major player in IT services and business process management markets, might not be hit. They may, in fact, gain, if one sees the current mood of IT customers.
There are four main reasons for this. First, though the overall IT spending is declining, the IT services space, which is key for Indian companies as they mainly operate there, is likely to grow 2.1 per cent to $929 billion. It had contracted 4.7 per cent to $910 billion in 2015.
The National Association of…
