IT companies see recovery signs in BFSI spends uptick, AI boom

Early signs of uptick in discretionary technology spending in the key vertical of banking, financial services and insurance (BFSI) and rupee depreciation in a seasonally weak third quarter (Q3) of the financial year has brightened prospects for India’s $254 billion outsourcing industry. This, along with growing momentum for artificial intelligence (AI) adoption across enterprises, has put growth in core markets on track for 2025.