by: Karen Cayamanda
Wednesday, February 24, 2010 | Outsourcing News |
Outsourcing contracts worth $1 billion may be granted to India this year as companies from different industries such as retail, banking, and telecom and utilities aim to cope with increased service demand and to reduce operational costs.
Early this year, British Petroleum’s IT outsourcing contract worth $1.5 billion was awarded to TCS, Infosys, and Wipro.
“We see both large and small deals coming back to the table. Although the traditional verticals like telecom, financial services and manufacturing have gained volume, it has been observed that new verticals like retail, media and entertainment, healthcare are also driving growth,” said Suresh Sundaram, HCL Technologies global head for marketing and strategy.
“Deal pipeline has picked up and 2010 is certainly a strong year compared with 2009,” said Managing Director Sid Pai of TPI, a global sourcing advisory firm. According to the most recent TPI Index, outsourcing contracts increased by 47 percent in the fourth quarter of 2009 compared to third quarter of the same year.
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