Why US economic slowdown may hurt Indian IT sector

Tata Consultancy Services (TCS) reported a net income rise of 8.7% to 113.4 billion rupees ($1.4 billion) for the second quarter, just missing analysts’ profit estimates. Sales climbed 7.9% to 596.9 billion rupees. TCS, India’s largest IT services company, is facing a slowdown in the industry as businesses cut back on technology spending due to economic uncertainty and higher interest rates.