Indian IT is having a hard time as growth slows.

There are no signs that spending on technology is going to pick up around the world. This is why Indian IT companies didn't do as well in Q1 as they did in the previous quarter. The remark paints a darker picture of the future because the expected rebound in the second half of the current financial year is slowly losing steam. Companies like Infosys have started to lower their predictions for income. It now expects its sales to grow by 1-3.5%, which is a big drop from its earlier estimate of 4–7%. After two years of double-digit growth, most businesses expect their sales to grow by a single number.

The US, which is the most important market, has begun to show signs of a decline. This is the second quarter in a row that the US growth rate has been slower than Europe's. Clients are slowing project work down or stopping it all together. Large IT companies' management said that their sales have gone down in the last quarter.

Companies are ending trial projects because they don't want to spend money on things that won't pay off right away. Cost takeout deals are coming in like crazy, but personal projects have stopped. So, even though the future looked bad, the deal flow stayed strong.