Amidst row surrounding UK FM Rishi Sunak & wife Akshata, India’s Infosys exits Russia

Must read

In the wake of accusations levelled against Rishi Sunak over the alleged Russian link, Indian IT firm behemoth Infosys has announced to move its business out of the Russian market.

There has been growing pressure on UK’s Finance Minister Rishi Sunak over Infosys, the company co-founded by his father-in-law, not moving out of Russia following the Ukrainian war.

He has also been facing pressure over his wife Akshata Murty, the daughter of Infosys’ co-founder, Narayan Murthy, reportedly holding 0.9 per cent shares of the firm.

It has been alleged that she did not pay tax on earnings from outside Britain, news agency Reuters reported.

On Wednesday, the company announced that it was “transitioning” out of the Russian market.

During a media briefing, Infosys chief executive and managing director Salil Parekh said, “Given what is going on in the region, we have started to transition all of our work from our centres in Russia to our centres outside Russia.”

“We have no work with any Russian client today and we have no plans for any work with any Russian client going ahead,” he added.

Parekh said the company was “very concerned” about the situation in Ukraine and had committed $1 million in humanitarian aid.

Infosys has been facing heat to cease operations after many IT firms suspended their operations. It had been maintaining “a small team… based out of Russia that services some of our global clients” until now.

Also read | Ukraine-Russia war: Rishi Sunak’s wife Akshata Murthy under scanner over Infosys shares

Notably, during an interview to Sky News, he was whether his family was “potentially benefiting” from Russian President Vladimir Putin’s regime, to which Sunak replied, “I don’t think that’s the case, and as I said the operations of all companies are up to them.

“We’ve put in place significant sanctions and all the companies we are responsible for are following those as they rightly should, sending a very strong message to Putin’s aggression,” he had replied.

Watch | Gravitas: Rishi Sunak grilled over alleged Russia link

(With inputs from agencies)



Source link

More articles

- Advertisement -

Startup

SirionLabs Rases $85 Mn In Series D Funding To Scale AI Development

The funding round was led by Partners Group with participation from other existing investors - Avatar Capital, Sequoia Capital and Tiger Global. As part...
- Advertisement -

Latest article