"BFSI typically leads other industry segments, so this is an encouraging sign for the rest of the IT industry," said Peter Bendor-Samuel, indicating a potential industry-wide recovery.
"Discretionary spending may not be back across all sectors, but IT companies are seeing growth in more verticals and geographies than before," reflecting broader opportunities for IT firms.
Analysts are optimistic as Q2 earnings suggest a revival in tech spending, highlighted by the BFSI sector's recovery and increasing AI deals.
After five straight quarters of macro uncertainty, Indian IT services firms are confident about revenue growth and hiring due to improved market conditions.
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