Domestic IT companies adopt wait & watch approach

New Delhi, September 21 (IANS): As the diplomatic ties between India and Canada further deteriorated on Thursday, domestic IT firms, especially those which have business and offices in Canada, remained in a state of caution, adopting a “wait and watch" approach. While the IT industry's apex body Nasscom has maintained there is “no immediate cause of concern,” IT companies, including startups, are treading with caution.

With India suspending visa services for Canadians "till further notice", their concerns have now become real.

Industry experts also expressed concerns that the current stalemate can delay new business deals and the movement of professionals between two nations. They stressed that a "favourable political climate" is essential for business growth.

Indian IT companies like Tata Consultancy Services (TCS), Infosys and Wipro have invested heavily in Canada and have a significant presence there.

Infosys has centres in Toronto, Calgary and Vancouver and in July, Infosys set up a new subsidiary in Canada under its US arm Infosys Public Services.

Headquartered in Ottawa, Infosys Public Services Canada will span over 10,000 square feet.