Wipro Sees Discretionary Spend Return In U.S.
BANGALORE: India's third largest IT firm Wipro Ltd Thursday said it saw discretionary spending return in North America, as the demand environment continued to be steady.
"The demand environment continues to hold steady. In North America, we see a return of discretionary spending. Continental Europe continues to have significant potential for outsourcing IT services," Wipro chief executive T.K. Kurien told reporters here.
Discretionary spending is the amount enterprises budget in a year on new projects resulting in more outsourcing of their IT services to global software vendors like Wipro as against non-discretionary spending made on operating and maintaining their existing IT infrastructure services.
Asserting that the deal pipeline was healthy, Kurien said demand in healthcare and life sciences was strong and business momentum was improving in manufacturing and hi-tech while it (demand) was challenging in retail sector.
