Why Donald Trump's win is good news for Indian IT firms, says India's 3rd largest tech co's boss Rishad Premji
Wipro Executive Chairman Rishad Premji has voiced optimism about the potential impact of Donald Trump’s return to the US presidency on India’s IT services sector. Speaking at an event in Bengaluru on November 19, Premji stated that Trump’s policies, which he described as «pro-business and pro-growth,» would benefit the technology services industry both in India and globally. «The government is very pro-business and pro-growth, which helps all of our customers, ultimately benefiting partners here in India and worldwide,» Premji said, highlighting the potential for tax cuts and deregulation to positively influence business activities.
This optimistic outlook follows a period of uncertainty for India’s IT companies, many of which have faced challenges as clients reduced spending on discretionary projects due to ongoing macroeconomic issues and inflationary pressures. Premji suggested that Trump's focus on corporate tax reductions and easing business regulations could help stimulate customer spending and contribute to growth in the sector.
Indian IT Sector Closely Monitoring US Political Developments
India’s $254 billion IT services industry closely watches political developments in the United States, as it remains heavily reliant on the US market for both revenue and talent. Premji emphasized that any policies which create a more favourable business environment, such as potential cuts in corporate tax rates, would help companies worldwide, including those in India, to better serve their clients and grow their businesses.
