Key Points
BENGALURU : Amid a year of turbulence for leading domestic IT service providers, smaller niche markets are emerging as promising avenues for sustained growth..
A Mint analysis, spanning four quarters of 2023, revealed that Tata Consultancy Services, Infosys, Wipro and Tech Mahindra witnessed robust growth across manufacturing, health and life sciences, and energy and retail..
The sectors outpaced the companies' overall net revenue growth, which is expected in a challenging year marked by a decline in business from primary revenue sourcebanking, financial services, and insurance (BFSI)..
. Abhinav Johri, tech partner at EY India, said BFSI, along with technology, media and telecommunications (TMT), could so far earn revenues at scale because adapting to new technologies was central to their growth agenda.".
For HCL Technologies, the focus on emerging technologies saw its BFSI growth surge, said Srinivasan Seshadri, the company's chief growth officer and global head of financial services, adding that it will focus on core modernization" as a growth factor to fuel further BFSI growth..
