The Indian IT enterprises will not be downsizing their ‘spending’ despite global disruptions, plummeting geopolitical conditions and sluggish global economic scenario. As the demand for IT infrastructure, services, and software is expected to remain strong in spite of the escalating cost, the IT businesses are planning to either keep intact or increase their IT budget for the current fiscal.
International Data Corporation (IDC) report (in April), noted an increase of 19.6% in digital transformation expenditure. According to the report, expenditure on artificial intelligence, automation, cloud, and security is also expected to go up, as the IT enterprises prepare to become “future ready.” The IDC report further added, that the IT spending in India is expected to grow gradually by 13.8% in 2022, as compared to 25.3% in the previous year.
Vinay Gupta, Research Director, IT Spending Guides, IDC Asia/Pacific said, “Indian enterprises continue to focus on their digital innovation initiatives, business operations resiliency, and customer experience programs. However, enterprises are keeping a sharp eye on global events”.
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