India's leading IT services firms, including Infosys and Wipro, expressed concerns over the impact of the USA's new tariffs regime on their clients' technology investments. Companies like Wipro reported a notable pause on a critical client SAP program as the client sought clarity on tariff implications. CEOs from these firms have observed significant caution among clients in various sectors, including consumer manufacturing and retail, leading to tightened budgets and delayed investments. Despite these challenges, there's an optimistic outlook that businesses may eventually turn to IT solutions to adapt to new logistics and manufacturing needs post-tariff adjustments.
Wipro CEO Srinivas Pallia explained that a client's SAP program was paused due to tariff uncertainties, showing the immediate impact of tariffs on business decisions.
Infosys CEO Salil Parekh highlighted the retail sector's economic uncertainty and its relationship to lower consumer spending, which is affecting client budgets and financial caution.
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