According to Chief Information Officers (CIOs) who participated in the survey conducted by institutional brokerage CLSA Asia-Pacific Markets along with outsourcing advisory firm TPI, global IT spending shows continuous growth, with the IT spend on the second half of 2010 expected to be the same as in the first six months.
“We are seeing lot of cheer in terms of IT spending across the globe. Thus we are moving steadily to achieve the guidance we gave last quarter,” said Rajan Kohli, chief marketing officer, Wipro Technologies.
India’s top three IT services providers, TCS, Wipro, and Infosys, posted six percent growth in revenues, which can be attributed to Western firms which start outsourcing IT processes to cut operational costs.
Things are looking up for the IT sector, but some are concerned about the quality of contracts in terms of tenures and contract values.