Indian IT Companies Pull Plug on Russia | In the News

Indian software services companies are moving their limited operations out of Russia over geopolitical tensions arising out of its invasion of Ukraine, while helping clients maintain business continuity by shifting work to other locations.

“We don’t expect technology services demand to cool down in the short to medium term because of the war. Pent-up digital transformation spends by large global 2000 clients is a secular trend and continues to aid pipeline and revenue growth for most IT and digital engineering service providers. However, some deceleration in growth is expected in 2-4 quarters as recession and inflation-related fears become more prominent,” said Nitish Mittal, Partner at Everest Group.

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