TCS expects retail, manufacturing revival after banking recovery
Tata Consultancy Services expects its retail and manufacturing clients in North America to step up spending on tech, following a similar upturn in its banking and financial services segment, a top executive of the nation's No. 1 software-services exporter, said.
«We have heard about good holiday season sales (in the U.S.) that should boost consumer sentiment and manufacturing has some of the labour issues behind them,» CFO Samir Seksaria told Reuters.
«If these three verticals (along with banking) improve overall, we should see a good recovery,» he said.
Seksaria's cautious optimism highlights broader global economic uncertainties and sticky inflation that have forced clients to keep a leash on tech spending.
The company's revenue in North America, its largest market, declined for the fifth consecutive quarter even as banking and financial services posted their best performance since June 2023.
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