Russia-Ukraine crisis: TCS pledges to donate 1 mn euros to aid agencies

India’s IT behemoth Tata Consultancy Services (TCS) has pledged 1 million euros ( nearly Rs 8.5 crore) to aid agencies working across Europe amidst Russia-Ukraine conflict. In response to a query by the Business Today, a TCS spokesperson said in a statement, “We are concerned about the humanitarian tragedy unfolding in Ukraine. We are contributing 1 million Euros to aid agencies involved in relief efforts to support the humanitarian needs across Europe.”

“Additionally, we will match contributions made by our employees as further support aid through these agencies. While we don’t have offices in Russia & Ukraine, we continue to monitor the situation. Our operations are running with business continuity plans in place for contingencies. We are also supporting our customers in their plans to prepare for all exigencies in this crisis,” the TCS spokesperson said in a statement.
 
Europe is one of the important client geographies for India’s IT service companies. The Indian industry is on a wait-and-watch mode as the conflict between Russia and Ukraine is escalating.
 
Data collated from the quarterly earnings reports of top Indian IT service companies suggests that Europe is the second-most important client geography for software service providers from India contributing 20-25 per cent of the overall business.

Ukraine, Poland and other Eastern European countries are increasingly gaining significance for the tech talent pool that these countries provide and are becoming an attractive alternative of outsourcing to India for global companies as well as IT companies. Ends