Infosys signals to stop operations in Russia after exit of several IT majors

Infosys MD and CEO Salil Parekh said that the company is very much in support of peace in the Ukraine-Russia conflict and is supporting every effort to help people that are being impacted by the situation.

"We have no work on business in Ukraine. We have a very small team of less than 100 in Russia. We have initiated the steps to transition the work that they're doing outside of Russia. We are not serving any clients which are Russian. There are global clients which are doing some operations in Russia," Parekh said.

Infosys had announced in April to move business outside Russia. Its announcement followed the exit of several IT majors, mostly US companies, from Russia.

"We have also created a contribution to help with the situation from our CSR activity to make sure that whatever support we can provide in terms of rehabilitation of the people displaced. This is a fund of USD 1 million," Parekh said.

Responding to another question on growth of business from Europe in light of ongoing Russia-Ukraine conflict, Parekh said Europe is a significant area of business for the company.

"We see our pipeline in Europe today remaining strong as well. We have not seen any impact on our client base to what is going on in Ukraine. We are keeping a clear focus on this. Our focus in Europe.

"We have a strong business, in financial services, in retail, in automotive, in pharmaceutical life sciences, and it's spread across many countries, the UK, Switzerland, Germany in the Nordics, France and at this stage, we see the pipeline with those clients in good shape," Parekh said.

Infosys gets more than 60 per cent of business from North America, around 25 per cent from Europe, around 11 per cent from India and the rest from other geographies.