View All Blogs

Indian engineering service providers revenue may decline 3% to 4% in FY21

Indian engineering service industry was on a roll and witnessed double-digit revenue growth in the last few years, whereas the Indian IT and BPO industries grew in single digits.

This year the winning streak will be broken. The $15 billion odd questions is by how much?

How will Indian engineering service providers grow in FY 21? I did estimate a few months back about the growth for four different categories of engineering service provides from -10% to 10%

Now nine months’ results are out, and it looks that my estimates were on the higher side. The actual nine-month growth of six large Indian engineering service provider is -5%.

These six service providers cover all four major service provider categories and can be a good sample for the Indian engineering service industry.

All service providers are on a recovery trajectory. Since Q4 will be better than the last nine months, the overall revenue decline of Indian engineering service providers in FY 21 should be about 3 to 4%.

The good news is most service providers are confident of double-digit growth in FY22. Let’s hope FY22 turns out to be a great year for all! 

Pareekh Jain

Add comment

The mission of EIIR Trend is to help EIIR buyers in their journey with data, information, and knowledge.

Email Newsletter

Subscribe to receive inspiration, news, and ideas in your inbox.

Gridlove Pareekh Jain Founder of Pareekh Consulting & EIIRTrends