Retail and manufacturing verticals hit hardest as US tariffs weigh on IT firms

BENGALURU: For IT services companies, verticals such as retail, manufacturing and logistics are expected to be the worst affected by tariffs imposed by US President Donald Trump.

About 13.3% of Infosys’s revenue comes from its retail segment, which saw a -2.6% year-on-year decline in constant currency (CC) terms for the quarter ended March 2025.