<ul><li>ICRA, a credit rating agency, has predicted a potential decrease in growth for the Indian IT services industry in the near to mid-term.</li><li>The agency cited a slowdown in demand from key markets, increased automation and competition from low-cost service providers as factors contributing to this potential decrease.</li><li>ICRA also mentioned the impact of COVID-19 on the industry, such as remote work leading to reduced IT spending by companies.</li><li>Despite this, the agency stated that the long-term growth prospects for the Indian IT services industry remain positive, due to its strong skillset and expertise in areas such as digital transformation and cloud computing.</li></ul>

Indian IT services industry's growth might drop in near to mid-term: ICRA

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