Since the Russia and Ukraine crisis worsens, India's information technology (IT) and business management sector is on a wait-and-watch mode.
Currently, Indian IT companies do not have any large operations in Ukraine, however, they do have big centers in Eastern European countries like Romania, Poland, Hungary and the Czech Republic, where business endurance plans are being initiated.
As per a credible source, around 50,000 tech workers and 200,000 tech freelancers in Ukraine can be affected due to the hostile situations, impacting the tech operations globally.
It also cautioned companies about the disruptions due to cyberattacks. The cyber risk outside Ukraine has increased suggestively in the last 48 hours. Therefore, all the firms should be prepared, even if they are using Eastern Europe as a technology delivery location or not.
India's third-largest software services firm, HCL technologies has stated that it thoroughly monitors the situation in the region's delivery centers.
A spokesperson of HCL said that the safety of the employees is of extreme importance to HCL. They are also focusing on sustaining their clients' highest service delivery levels. Therefore, the firm has been monitoring the situation closely and have already initiated the necessary continuity measures for the business.
Nasscom, the IT industry body, said that it is in touch with its members to understand the impact of the Ukraine crisis. However, the initial feedback specifies no immediate effect as the industry is not having a significant presence in Ukraine.
Sangeeta Gupta, Chief Strategy Officer, Nasscom, said that Eastern Europe is a vital part for the global delivery operations for companies and business continuity plans being made and put in place as a matter of great caution.
Tech firms meanwhile plan to hire a more extensive local employee base in this region, say industry experts.
Source Credit - https://www.businessweekly.co.uk/news/hi-tech/ibm-invests-quantinuum-and-opens-fresh-ml-tech-horizons