Nifty IT Set For Worst Year Since 2008 Financial Crisis; What’s Next?
The Nifty IT index has declined as much as 25% so far in 2022—the steepest decline in a calendar year since at least 2008, when the barometer fell 54.56%, according to Bloomberg data. The gauge more than doubled in the pandemic years of 2020 and 2021, underscoring the rush of digital transformation deals amid stay-at-home restrictions. The sanctions imposed on Moscow have had a ripple effect in the U.S. and Europe—two of the biggest markets for Indian IT firms—curtailing spending power across the Atlantic. The pandemic momentum was lost in a hurry amid record attrition rates at home. A weaker rupee hasn’t been of much help either. Originally published by: https://www.bqprime.com/business/nifty-it-set-for-worst-year-since-2008-financial-crisis-whats-next Nifty Demo Are you searching for a project management tool that can streamline your team's workflow and improve productivity? Nifty is a cloud-based project management software that can help you manage your projects, communicate