IT Inc worries as US may slap tariffs on software exports
India’s information technology sector is rattled by indications that the US government could consider extending tariffs to software exports, a prospect that would deal a blow to the industry in its largest market. IT firms are already reeling under the impact of global business uncertainty and automation driven by artificial intelligence (AI), said industry experts.
The domestic $283-billion technology services outsourcing industry, with players including Tata Consultancy Services, Infosys, HCLTech and Wipro, currently relies on more than 60% of its revenue share from the US, while the majority of the workforce is based in India.
