Friday, 24 March, 2023

Indian IT may take hit as many US retailers on verge of bankruptcy 

<p>Infosys, Cognizant, TCS and Wipro service -- may see business from the US retailers fall by 50% or more this year. Some of the big retailers in the US like Neiman Marcus, J Crew, JC Penney have shut stores and has filed bankruptcy or contemplating it. This could blow away their investment on IT software and services -- billing, data management, app testing and management -- they use. The overall IT budgets in the segment may drop 50-75% over the next three to four months.</p>