Infosys to close its Russia office

Infosys, India's second largest IT service provider by revenue, is shutting down its Russia office and trying to find replacement roles abroad for staff employed in Moscow.

The development follows with the criticism directed at UK’s Chancellor of the Exchequer Rishi Sunak over his wife Akshata Murty’s shareholding in the Bengaluru-based firm cofounded by her father NR Narayana Murthy.

Infosys's most recent annual report lists Akshata Murthy holding 0.9 percent of the company's shares worth hundreds of millions of pounds. Primarily, there was no exchange filing available on this development on India's two big stock exchanges.

Sunak said,“It's very upsetting and, I think, wrong for people to try and come at my wife, and you know, beyond that actually, with regard to my father-in-law, for whom I have nothing but enormous pride and admiration for everything that he's achieved. And no amount of attempted smearing is going to make me change that because he's wonderful and has achieved a huge amount, as I said, I'm enormously proud of him.”

With this, Infosys will become the first Indian IT company to exit Russia. Infosys had said that it does not have any “active business relationships with local Russian enterprises.”

Infosys is one of the few IT services companies which continues to operate in Russia while most big global IT and consultancy firms such as SAP, Oracle, PwC, McKinsey, Accenture and KPMG have all closed their operations post war-like situation in Ukraine.