Downturn: Indian IT Firms Brace For A Chilling Winter This Year

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India’s four largest IT services companies - Tata Consultancy Services  (TCS), Infosys, HCLTech, and Wipro - registered record deal wins

Better pricing, lower employee costs and margin growth in the second quarter of the current financial year.

Yet, there is an underlying sense of unease as an energy crisis in Europe.

And rising inflation in the United States threaten to disrupt the macroeconomic situation.

Top software exporters were no longer denying that “large” uncertainties lay ahead for the $227-billion Indian IT industry.

It has steamed ahead in the last two years.

Though India’s top software services providers reported better-than-expected numbers last week.

There are dark clouds on the horizon as an energy  crisis in Europe and rising inflation in the United States threaten to  disrupt the macroeconomic situation.