Can IT look beyond BFSI? US banking crisis threatened to create a domino

But things are getting better and demand outlook remains strong

To paraphrase an ancient aphorism, when the United States corporate sector sneezes, Indian information technology companies catch a cold. The cold turns into pneumonia if the sector sneezing is banking, financial services, and insurance (BFSI), which contributes the bulk of revenues for most top Indian IT companies.

Now picture this.
 

In March, Silicon Valley Bank (SVB) in the US became the biggest bank to fail since the financial crisis of 2008. Soon after, regulators shut down Signature Bank to control a contagion. The ripples of shock turned into waves with the UBS-Credit Suisse saga, and then JPMorgan’s acquisition of First