US Retail Pains Will Impact Indian IT Companies | In the News

Indian IT firms are among those that will be adversely affected as the pandemic pummels the US retail sector. Some 14 American retailers including JC Penney, Neiman Marcus, J Crew and Aldo have filed for bankruptcy in the last four months. Many of them have contracts with TCS, Infosys, Cognizant, HCL and Wipro, and it’s likely those contracts will suffer.

Abhishek Singh, VP in IT advisory Everest Group, said infrastructure services and application maintenance may see flat to moderate growth, due to seasonal spike in demand as major retail events take place in the latter part of the year – fall, Thanksgiving, Christmas, New Year. Application development, he said, may witness de-growth as new development will be held back.

Read more in Economic Times

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