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Tech sector outlook for 2023-25 looks good

The Nifty IT index is down by 25% , respectively, for the year, reflecting the concern that a US and global recession could significantly slow the business of Indian IT and digital transformation services. These concerns are significantly overblown and over rated, as stated by Mr Vikas Gupta of Omniscience Capital.

To understand Indian IT companies, the most important point to note is that more than 50% of their revenue is driven by digital transformation and related services, mostly driven by cloud computing.