Global Economic Downturn Impacting IT Spending: A slowdown in global economic growth or a recession could lead clients to reduce discretionary IT spending, project delays, or contract renegotiations, directly impacting Infosys's revenue and profitability.

Intensified Competition and Pricing Pressure: Infosys operates in a highly competitive market with both global and local players. Increased competition can lead to pricing pressure, margin erosion, and the need for continuous innovation to retain and win new clients.

Rapid Technological Change and Skill Obsolescence: The IT industry is characterized by rapid technological advancements (e.g., AI, GenAI, cloud, automation). Infosys must continuously invest in reskilling its workforce and acquiring new capabilities to remain relevant, or risk its traditional service offerings becoming obsolete.