New Delhi, April 28 -- The Big Five of India's IT services sector are flashing mixed signals on hiring and pay hikes, at a time when the sector is navigating uncertainties resulting from US president Donald Trump's tariff war. Companies are mostly in a wait-and-watch mode, as they await clarity on spending plans by their biggest clients in the US.

Tata Consultancy Services Ltd, Infosys Ltd, HCL Technologies Ltd, Wipro Ltd and Tech Mahindra Ltd collectively employ more than 1.5 million employees as of March 2025. Low business due to demand uncertainty means salary hikes might be deferred or lower than the previous fiscal, or both.

Mumbai-based TCS that gives pay hikes around April-July period has deferred its wage hike plans, citing macr...