Mukesh Ambani says that Donald Trump is a 'blessing in disguise' to the Indian IT industry

As US president Donald Trump keeps the world on tenterhooks with his protectionist ways that can have a debilitating impact on the Indian IT sector, RIL Chairman Mukesh Ambani today advised the industry to look at it as a blessing in disguise to focus on home market.

“Trump can actually be a blessing in disguise. The domestic IT industry can focus on solving problems right here, which is a huge market,” Ambani told the three-day Nasscom leadership forum that opened here today.

Incidentally, the comments from Ambani who has spent over Rs 1.2 trillion in his new telecom venture Reliance Jio, come on the same Nasscom platform that delayed its customary annual growth projection to May as the industry awaits clarity on Trump’s plans to more than double the minimum salary for H-1B visa-holders and massively curb visa issuance to techies.

The problem is that the $155-billion domestic IT industry nets over 65% of its revenues from the US.

Nasscom again lowered its revenue growth projection to the lower-end of its already lowered guidance of 8-10% for this year from 10-12% given last February.

PTI

Disclaimer: Reliance Jio is owned by Reliance Industries, who also own Network18, the publisher of Firstpost and tech2.