The IT sector is showing signs of recovery with a 10% increase in hiring requirements in July compared to the previous month.
Experts predict that the rebound in the IT sector will be fully reflected in the October-December quarter, indicating a slow recovery rate.
The increase in demand is primarily driven by companies with better visibility into future demand, and IT services are expected to open up to some extent this quarter.
Although there is progress in hiring mandates and an uptick in demand, the recovery in the IT sector still lags behind expectations and remains significantly lower than the peak demand seen in 2021.