Global banking, investment firms to ramp up IT spending by 10% to $716 billion: Gartner

The Indian IT industry is poised for a boost as domestic banking and investment services firms ramp up their IT spending. Projections indicate a 12.2 per cent growth in spending, reaching $13.2 billion in 2024, compared to $11.80 billion in 2023. This increase would be driven by growing demand for software and IT services, with expected growth rates of 18.5 per cent and 11.4 per cent respectively.