India will now be considered a safe heaven for investors

Post the Brexit, both short-term and long-term impact on the UK and Euro Zone will have to be closely watched, says Moshe Katri, independent IT expert. The scenario for IT companies, post Brexit, looks pessimistic. The recovery in the second half for the sector could be challenging, Katri told CNBC-TV18.

In Indian context, three major IT firms — Accenture, Tata Consultancy Services and Cognizant — are likely to be most impacted as their exposure to UK is high, Katri says. However, it is too early to cut down earnings expectation for these firms. “Investors will look at India as a safe heaven now,” he says, adding that rupee will strengthen in such a scenario. He expects 2016 to be slower.

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