Indian IT sector to grow 8-10% in FY24; FY25 would be much stronger: Nitin Soni, Fitch Ratings

“Customers used to give the big bank projects to one particular IT vendor and that is not happening in the past few years. While that has been broken down into smaller projects and that is partly a reason why growth is slowing down. The BFSI sector is also slowing down a bit in the US and Europe, given the high interest rates.”