Although Europe is frequently seen as the next big frontier for the major Indian service providers, companies such as Wipro, Infosys and TCS are finding the continent to be an increasingly vulnerable place to do business.

One reason is the euro’s volatility. Furthermore, the top Indian IT firms, previously enjoying growth rates of 25-30 per cent in Europe, are also now struggling due to top customers in the region, such as AstraZeneca, cutting down on their spending.

As a result, the Indian Economic Times has found that revenues for the majority of Indian’s biggest service providers operating in Europe have declined in the last quarter of 2014 and first quarter of 2015.

For weekly news updates, subscribe to our email newsletter.

Related: Infosys Reveals Blueprint of Plan to Achieve $20 Billion Value by 2020