During this election season in the US, India’s IT services sector will see the business grow as it has hired local engineers in small towns to meet requirements of clients whose businesses are getting disrupted by technology, as noted by the analysts
The US economy is growing and unemployment has fallen from when he took over the top job in 2017. Investors have been concerned about risks to Indian IT firms’ business outlook in case Trump gets re-elected and ramps up the action to insource IT capability back to the US, with the intent of bringing more jobs into the country. However, analysts suggest that companies have done enough to alleviate his concerns.
“The short to medium term future is bright for the leading Indian IT services majors,” said Phil Fersht, CEO of US-based IT research and advisory HfS Research.
To fulfill the requirements, Indian IT firms have set up local delivery centers staffed with engineers in the US, and this strategy is in their favor, they pointed out.