The demand outlook for India's $283-billion IT sector remains uncertain due to U.S. tariff risks and global geopolitical factors, a senior Wipro executive said on Wednesday.

Although India's negotiations have so far been aimed at holding the tariff below 20%, its position within BRICS and its purchase of Russian exports like oil present problems

India currently imports 1.6 to 1.7 million barrels of discounted Russian oil daily — roughly 35 per cent of its total crude demand. Donald Trump’s threat of 100 per cent secondary tariffs on Russian trade partners within 50 days could disrupt these flows and imperil a bilateral trade agreement with the US,

He urged India, China, and Brazil to pressure Putin for peace talks, as these tariffs could severely impact their economies.

Tesla launched on Tuesday its Model Y at about $70,000 in India, a significant markup relative to its other major markets, reflecting the country's high tariffs on electric vehicle imports which CEO Elon Musk has long-criticised.

India's Tech Mahindra reported a marginally lower-than-expected first-quarter revenue on Wednesday as clients tightened non-essential spending amid tariff-related uncertainty. Consolidated sales at India's fifth largest IT services firm by revenue rose 2.

India believes it is premature to create a contingency plan without clarity on the scope and impact of the US's reciprocal tariffs. ⦁ India and the EU will resume negotiations on their free trade agreement in early September.

Cooling inflation in India and tariff-induced price pressures in the U.S. are cementing a downward bias on dollar-rupee forward premiums, according to analysts.