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Ukraine effect? Infosys to move its business out of Russian market

This move comes against the backdrop of the Ukraine-Russia conflict. Infosys said that they are not working for any Russian client, and have no plans to work for Russian clients in the future.

Published: 14th April 2022 08:06 AM  |   Last Updated: 14th April 2022 11:02 AM   |  A+A-

Infosys logo (Photo | EPS)

Infosys logo (Photo | EPS)

Express News Service

BENGALURU:  IT giant Infosys, which has less than 100 employees in Russia, on Wednesday said it was transitioning out of the Russian market.

This move comes against the backdrop of the Ukraine-Russia conflict. Infosys said that they are not working for any Russian client, and have no plans to work for Russian clients in the future.

“Infosys as a company very much would like to see the two sides (Russia and Ukraine) come together and come to some agreement on peace...we have started transitioning all of our work in Russia to centres outside Russia. We work with no Russian clients. At this stage, we have no impact within our business from an Infosys perspective,” Salil Parekh, CEO of Infosys, said in a press conference.

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For IT companies, the US, UK and Europe are the largest markets and the firms have been expanding their presence in Eastern Europe. 

Apart from Russia, Infosys has a presence in Hungary, Lithuania and Slovakia. Infosys might move its work from Russia to other eastern European countries.

Parekh also said that they would be providing assistance for reskilling individuals that are displaced.

When asked about travails being faced by Akshata Murthy, daughter of Infosys co-founder Narayana Murthy, Parekh said he could not comment on individual shareholders. 

Akshata Murthy and her husband Rishi Sunak have been facing a raging controversy over tax status in the UK.



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