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IT industry braces for uncertain times as Britain decides to exit EU

Industry fears delay in spending decision by clients while GBP devaluation to hit immediately

Topics
Brexit

Bibhu Ranjan Mishra & Kiran Rathee  |  Bengaluru/New Delhi 

As Britain votes in favour of exiting the European Union, the Indian Information Technology (IT) services industry is bracing up for another phase of uncertainty in the short to mid-term. The United Kingdom is the second-largest IT spending country in the world after the United States, accounting for over 20% of the overall IT services exports from India.

Most of the large Indian IT services companies, especially Tata Consultancy Services, Tech Mahindra, HCL Technologies and Infosys have strong presence in the country. With the referendum results in the country going in favour of ...

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First Published: Fri, June 24 2016. 10:51 IST
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