India IT Spending to Grow 2.6% in 2023: Gartner

India IT spending is projected to grow 2.6 per cent in 2023, according to a recent forecast by Gartner.

Even with the looming tensions of global inflation and the weakening rupee, Indian businesses will continue to increase their spending in key segments of information technology next year.

“Inflation has not impacted enterprise spending on technology globally, and India is no exception to this trend,” said Arup Roy, VP Analyst at Gartner. 

He added, “The headwinds are in favor of technology as businesses realized how going digital can benefit them in the long run. Depending upon the maturity level of the digital enterprise, the spending context may be different for different businesses, but overall technology spending will continue to be on the rise in 2023.”

“As Indian organizations advance in their digital initiatives and maturity, they will need to elevate their cybersecurity focus or face severe business risk. Also, paucity of good quality digital talent and technology/management skills will continue to be some of the top challenges that CIOs in India face in 2023,” said Roy.

CIOs in India will need to be extremely creative about how they source talent, where they source from and how effectively they use those resources, as per the findings.