Uncertain macro situation stifling discretionary spending: Wipro chairman

Things have not worsened for Indian IT industry but they have not got any better either, he says

The macroeconomic environment for the Indian IT industry “has not worsened, but it has not got any better” as clients adjust to geopolitical conflicts, said Wipro executive chairman Rishad Premji on Wednesday.

 

An uncertain environment has stifled clients’ discretionary spending, with cost and vendor consolidation taking precedence, he said at the company’s 79th annual general meeting in Bengaluru.

 

“While it has not worsened, it has not got any better,” he said while responding to a shareholder’s question. Premji’s statements mirror those of C Vijayakumar, chief executive officer (CEO) and managing director of HCL Tech, who earlier this week said the global economy has held steady after fears of a tailspin in April.

 

 

 

“We navigated an ever-changing external environment shaped by evolving tariffs, geopolitical tensions, and rapid technological advancements like AI (artificial intelligence). Generative AI (GenAI) became central to business strategy, enhancing productivity, reimagining processes, unlocking growth, and creating meaningful experiences,” said Premji as part of prepared remarks.

 

Wipro, India’s fourth largest information technology services provider by revenue, is preparing for the future by building an AI-first workforce. It said nearly all its employees have completed foundational training in GenAI and more than 87,000 have received advanced, role-specific upskilling. (The company had a workforce of 233,346 as of March end).

 

The skilling is done through a programme called Talent@Scale, which has partnered with academic institutions to establish centres of excellence providing industry-aligned training in high-demand skills.

 

Wipro CEO Srini Pallia said the company is working on “frontier technologies” such as quantum, agentic AI, cyber resilience, robotics, and blockchain.

 

“We continued to drive impact through consulting-led, AI-powered solutions. Our teams now engage earlier in the transformation journey by defining roadmaps, identifying AI opportunities, and aligning with business goals.

 

 

“These solutions span across BFSI, consumer, energy, manufacturing and resources, technology and communications, and health. Cross-industry offerings further strengthen our ability to address complex transformation needs at scale,” said Pallia.

 

About 37 per cent of Wipro’s workforce comprises women, said Premji while replying to another shareholder. As many as 19 per cent of its leaders comprise women, which is up about 2.5 times in the last five years.