India's TCS says retail, travel clients more exposed to U.S. tariff turmoil
The Hindu
TCS clients in retail, travel and auto sectors are more prone to be impacted by the U.S. tariffs and may resort to cost-cutting if uncertainty stays.
Clients of India's Tata Consultancy Services in the retail, travel and automobile sectors are more exposed to fallout from U.S. tariffs and they may resort to cost-cutting if uncertainty persists, the company's CEO told Reuters.
The banking and financial services sector - which makes up nearly a third of revenue for India's biggest software exporter - remains unaffected, TCS top boss K Krithivasan said in an interview.
The global trade war and U.S. President Donald Trump's back-and-forth on tariffs have made it difficult to forecast market conditions, making businesses hesitant about signing off on big spending decisions.
"The consumer business, hospitality business, travel, auto industry are the businesses that we have to watch out for. If the uncertainty continues for longer, those businesses may have to focus more on cost optimisation, but at this time, I have not heard anything," Krithivasan said.
Retail and manufacturing are the company's second- and fourth- largest revenue contributors, while banking remains the largest.
TCS earns roughly half of its revenue from North America, a crucial market for Indian IT service providers that are exposed to the tariff fallout through their U.S. clients.
The company missed fourth-quarter earnings estimates on Thursday and warned about clients delaying decision-making in discretionary projects.
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