Deal reversals in IT, Indian OTT, India VIX, XPoSat

Mirroring global trend, the Indian IT industry showed muted growth in 2023. The slowdown — that set in somewhere in the midst of 2022 — continues to haunt the sector. Offshores deals are being called off, and hiring has shrunk for the first time in the last 25 years. But experts see some silver linings as the global economy is recovering. So will Indian IT continue to face deal ramp downs in 2024?

Over-the-top platforms, meanwhile, continued to entertain viewers in 2023. An SBI report in August last year said that OTT platforms would soon dethrone multiplexes as India’s go-to entertainment option. So what is in the store for OTTs this year?

And it’s not just OTT media services, the march of Indian equities too continued last year. They gave stellar returns of up to 20% in 2023. And most of these gains came in November and December itself. This fast paced rally has also sent the India VIX or volatility index to multi month highs during this time. The rising gauge means markets expect high volatility ahead. So are equities ripe for a correction in the new month?

Like the financial markets, India’s space sector too has been scaling new heights. ISRO rang in the new year by launching the XPoSat mission. The aim is to study black holes and neutron stars. Listen to this episode of the podcast for more about this interesting project. Business Standard