Indian IT companies are expected to rent around 3.6 fresh lakh in the service industry during the current financial year, Unearthinsight market intelligence company said on Thursday.

Reports on IT Industrial Insights and Prostions said that the IT sector continued to witness the uptrend in friction with 22.3% in the third quarter, up from 19.5% in the second quarter, estimated to be among 22% to 24%.

However, from the financial year 2023 it is likely to increase and decrease to 16-18%, the report said.

Uneathinisighs founder and CEO of Gaurav Vasu said that despite severe waves of national pandemic in the past few weeks, the prospect of the growth of the IT industry remains intact and this financial year industry is likely to achieve the best income growth and will continue to increase labor in accordance with estimates. .

“While industrial wage bills are in trends, the friction rate continues to be a problem for the industry and is likely to continue for a quarter before starting to improve from the next fiscal year,” Vasu said.

The report estimates that IT industry revenues will grow 19-21% in current fiscal which will be the highest for sectors and momentum is expected to continue in the next financial year (TA) and 2024.

“On the side of the technology, the IT company key witnesses excellent growth in clouds and their platform products and products while the penetration of low code platforms and without a significant momentum code,” Vasu said.