5 Equity Mutual Funds to Benefit from India’s IT and Tech Boom

Three years ago, when the COVID-19 pandemic gripped the world and lockdowns were imposed, the two sectors or themes that earned the attention of the market participants were ‘Pharma & Healthcare’ and ‘IT and technology’.

Speaking of IT and technology, with a large section of the populace (barring the frontline workers) locked down at homes, the emphasis turned to Information technology, data consumption, and entertainment as people stayed safe at home.

So, broadly, technology as a theme boomed–– grew leaps and bounds.

Also, thanks to ‘Digital India’, a flagship programme of the Modi-led-NDA Government, with a vision to transform India into a digitally empowered society and knowledge economy.

In FY 2022-23 (FY23), India’s top 10 IT companies collectively reported a net profit of over Rs 1 trillion strengthening their position as a global technology powerhouse.