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Nomura sees IT sector growth improving but perception on AI remains a hurdle
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Nomura projects marginal revenue growth for Indian IT firms next year, with large-cap firms' dollar revenue growth accelerating to 4.5%. Despite negative AI perception, Nomura sees potential in AI spending as proof of concept projects evolve. Currency depreciation offers short-term margin benefits. Nomura anticipates improved AI narrative for IT services, driven by cloud companies monetizing AI investments, positioning Indian IT firms to benefit.
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