Irrational exuberance pulled IT companies down in FY23: NASSCOM chairman

Delayed decision-making, economic uncertainty and inflation along with demand contraction in some markets are expected to be the major headwinds for the sector

Sourabh Lele & Shivani Shinde | Mumbai
Last Updated at March 2, 2023 10:34 IST

Ramanujam said discretionary projects getting stalled by customers were causing companies to take action to safeguard margins and leading to delays in onboarding and other negative things in the industry.

Irrational exuberance due to the unprecedented situation during the pandemic times has led to disappointment for the Indian IT services industry in FY23, while delayed decision-making from customers was adding to uncertainties, Krishnan Ramanujam, chairman of NASSCOM, said.

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