TCS CEO N Chandrasekaran shrugs off Donald Trump, Brexit fears
Amid apprehensions about fall-out of Brexit and the US presidential election on the outsourcing industry, India's largest software exporter TCS Thursday dismissed possibility of adverse impact.
Mumbai: Amid apprehensions about fall-out of Brexit and the US presidential election on the outsourcing industry, India's largest software exporter TCS Thursday dismissed possibility of adverse impact.
"I don't see our business getting impacted by the outcomes of the US elections (if the Republican Pary's Donald Trump wins) or due to the British move to begin their exit from the European Union from March, because technology investments will continue to take place as companies know the positive outcomes of that," TCS chief N Chandrasekaran said while announcing the second quarter numbers.
"Maybe companies will delay their investments in technologies for a while, but they will continue to invest in technology and into the digital space," he said.
He, however, quickly added that "having said that let me explain that I don't have any concrete idea as to how these events may impact these economies as well as the global economies on a macro level. If the impacts are negative as many fear, then definitely there we too will be hit.
"But I have no indication as of now from my client interactions that they have any plans to stop investing in technologies," the TCS chief said.
Incidentally, Chandrasekaran also said for TCS, which desists from offering guidance traditionally, the next two quarters will be best in many years saying many of the delayed contracts will be executed during the second half.
Trump has threatened to end outsourcing and put up many trade protectionist measures if elected to the White House.
The US is the largest market for the domestic software exporters.
Also, British Prime Minister Theresa May had said she would begin the Brexit process in a hard manner from March. TCS has already reported a marginal dip in its income from Britain in the reporting quarter due to the massive plunge in the pound.