Healthcare crisis in US, regulatory curbs weigh on Indian IT companies
Indian IT companies are facing challenges in the healthcare and lifesciences vertical in the Americas, with TCS and HCL Technologies reporting sequential revenue declines of 1% and 0.5%, respectively. Wipro's Health vertical, which constitutes 14% of its total revenue, saw a 2.6% drop in Q1, attributed to stagnant budgets among US healthcare providers. The overall demand outlook for these firms remains uncertain due to geopolitical factors, client budget cuts, and increasing expenditures on AI.