IT services will grow the fastest at 13.8 percent in 2017 followed by software at 13.4 percent.
Firms in the banking and securities industry are investing more in enterprise resource planning (ERP)/supply chain management (SCM)/customer relationship management (CRM) to upgrade their existing infrastructure.
"The Indian banking sector has undergone a transformation. Banks are gradually lowering the number of branches and increasing capability in terms of their existing infrastructure," said Moutusi Sau, Principal Research Analyst at Gartner.
"Despite effects of demonetisation in the banking sector, banks will continue with digital transformation projects," Sau added.
Demonetisation is the primary reason for the slowdown in the banking and securities market in India but the effects will be short-lived, Gartner said.
The slowing manufacturing sector is also having an indirect effect on the banking and securities sector, it added.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
About VDC
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.