Indian IT sector not impacted by Russia-Ukraine war; in wait-and-watch mode

Analysts say no direct presence in Ukraine; per 60% of the sector's business comes from US, another big chunk from UK, Germany and France

The Indian IT services sector, which has more than 30-40 per cent of its revenue coming from Europe, does not see the Russia-Ukraine crisis impacting operations in Europe. Analysts and companies told Business Standard that since there is no direct presence in Ukraine the crisis has not impacted them.

C P Gurnani, CEO and MD Tech Mahindra said that anything that destabilises is a concern and that though there is no threat to business they are being cautious on data security needs of the clients and on continuity.

“Anything that destabilises, is always a concern. First, a lot of our clients have