TCS flags project delays, deal clampdowns on Trump’s tariff chaos; Retail, auto verticals among worst hit

Tata Consultancy Services (TCS) announced its January-March quarter results for fiscal 2024-25 (Q4FY25) on Thursday, April 10, and warned that the global uncertainty around US President Donald Trump’s tariff hikes has prompted US and European clients to rethink the discretionary projects.

India’s largest information technology (IT) services giant also said it will defer wage hikes for its 6.07 lakh employees due to the overall business uncertainties triggered by Trump’s tariff chaos. The US tariff saga has soured expectations of any immediate upswing in fortunes for India’s IT majors.