IBM India rules out tech spend slowdown

Mumbai: Global tech major IBM on Tuesday said there is no slowdown in tech spends in India, ducking the headwinds reported in some advanced economies.

IBM India’s managing director Sandip Patel also said that people’s confusions on the data privacy law will get clarified as the law is implemented. It can be noted that a slew of domestic IT majors, which depend on technology spends in advance economies for their revenues, have reported headwinds because of factors like geopolitical tensions, commodity price hikes, inflationary pressures and interest rates hardening.

“Domestic market, I don’t see any slowdown,” Patel said when asked about the impact of the global scene on the company’s operations locally.