Despite the ongoing global economic crisis, the Indian IT services market grew by 8.1% in the first half of 2022 compared to the 7.3% growth in the first half of 2021 contributing 78.5% to the IT & business services market.

India's domestic IT & business services market was valued at $7.15 billion and recorded a 7.4% YoY growth compared to 6.4% in the first half of 2021, according to the International Data Corporation (IDC).

It recorded robust growth as enterprises continued to increase their IT service investments to improve resiliency, increase customer satisfaction, accelerate product development, and other services.

Apart from digital transformation initiatives, there is also a rise in discretionary spending, as IT investments put on hold due to the pandemic have resumed. With investments in the cloud continuing to rise, enterprises also continue investing in data analytics and AI/ML for better decision-making and IT security