Wipro says protectionism, threat of global trade war pose risk to business

India’s fourth largest IT services firm Wipro has flagged “increased protectionism” and risk of a “global trade war” among factors that could adversely impact its business, according to its regulatory filing.

Wipro derives about 55 per cent of its IT services revenue from the Americas (including the US) and 25 per cent from Europe. For the year ending March 2019, the company had posted a total revenue of Rs 58,584.5 crore (USD 8.47 billion).

“Our business and financial performance is and will continue to be affected by economic conditions globally. Increased protectionism and the risk of global trade war, resulting in weaker global trade and economic activity could adversely affect our business,” it said in its annual report filing to the US market regulator.