India’s vast information technology outsourcing sector is hoping for a revival of its fortunes under a second Donald Trump presidency, with an industry that derives more than half its revenues from the US expecting incentives for its customers there to increase spending.
With the new administration promising to slash corporate taxes and tame red tape, India’s $128bn annual revenue back office and consultancy sector, with its huge campuses across cities from Bengaluru to Pune, sees opportunity in its largest market after years of anaemic demand and growth.
“Mr Trump in the past has been very business savvy,” Atul Soneja, chief operating officer at Tech Mahindra — the IT business of the Mahindra Group conglomerate — said in an interview in Bengaluru. “We should hopefully start seeing the benefit.”