IT firms bullish on higher spending due to tax cuts

Barring apprehensions on the possibility of a tighter H1-B visa norms, IT services firms seem to be upbeat with the victory of Donald Trump, in the hope that policies pursued by him would lead to higher discretionary spending by enterprises.

Analysts said that the US has a lot of work to do in sectors like banking and healthcare, which are currently under penetrated. Manufacturing is also facing challenges, so, the expectation is that IT project spending would rise.