As North America gains traction, IT companies note softness in Europe

Europe was a bright spot for the Indian IT industry’s growth when its chips were down. But as North America has started gaining traction for the IT services industry, the other side of the pond has begun to show signs of softness for many of the top IT companies. Experts also say Europe is facing a decelerating economy which is unlikely to improve in the near future and hence clients are pulling back hard on discretionary spend and looking to delay large projects.