What Amazon’s rise portends for TCS, Infosys and Wipro
As US retailers like Best Buy and Wal-Mart shut stores due to rise of e-commerce, Indian IT firms, such as TCS, Infosys and Wipro, catering to them are a worried lotUpdated: May 24, 2017 16:14 IST
One morning in October 2015, a senior executive at Wipro Ltd, was leaving home when he heard news that was disturbing enough for him, a veteran road-warrior, to leave his laptop charger behind. He had just been told by his team in the US that Best Buy, the American electronics retailer, was shutting down 30 stores.
Wipro handled several technology processes for the retailer, including testing software and rolling out enterprise application planning software and store inventory management applications. The decision to close stores meant less business for India’s third largest software company. Wipro got business of around $70 million from Best Buy.
“The retail industry is fighting its own battle for survival because of e-commerce companies such as Amazon,” the executive said in an informal conversation in October 2015.
Now, after a year and a half, this’s even more true.
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First Published: May 24, 2017 15:33 IST