TCS signs deal with M&S; expects USD 1 bn retail sector biz in UK, Europe to outgrow Co revenues

TCS expects the USD 1 billion retail sector business in the UK, Europe to outpace the company’s overall revenue growth on the back of strong demand for IT services, a senior official has said. The country’s largest software exporter on Wednesday announced a multi-year, multi-million dollar deal with Marks & Spencer, with which it has been working for over a decade, to transform the British retailer’s human resource operations.

The company’s business head of retail in Europe, Abhijit Niyogi, told PTI that the demand for IT services remains strong in Europe and the UK despite macro headwinds like inflation, rate tightening, political turmoil in the UK and the ongoing Russian invasion of Ukraine. Stating that the business headed by him has a topline contribution of over USD 1 billion a year, Niyogi said it has been clocking a revenue growth faster than the one reported by the company on an overall basis for the last two-three quarters.