FILE PHOTO: U.S. President-elect Donald Trump gestures as he meets with House Republicans on Capitol Hill in Washington, U.S., November 13, 2024. REUTERS/Brian Snyder/File PhotoBENGALURU : Donald Trump's presidency in the United States is going to be"pro-business and pro-growth" and good for the tech services industry, Wipro Executive Chairman Rishad Premji said at an event in the southern Indian city of Bengaluru on Tuesday.
Premji said the conversation on fewer taxes and regulations during Trump's presidency could be powerful and"bodes well for the business and how customers will spend." This shift in perspective comes after IT services players underwent consecutive difficult quarters of clients holding back spending, particularly on discretionary projects, due to macroeconomic concerns and inflationary pressures.
Stricter U.S. policies on outsourcing and restrictions on H-1B work visas could weigh on India's IT sector, which relies heavily on the U.S. market, a note by CareEdge Ratings said.