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Veteran Expediter
From Reuters;
India may get a billion dollars in IT outsourcing contracts.
MUMBAI (Reuters) – Leading Indian outsourcers such as Tata Consultancy (TCS.BO), Infosys (INFY.BO) and Wipro (WIPR.BO) stand to gain contracts worth about $1 billion in the next one or two years as U.S. banks emerge from the troubled asset relief program, the Economic Times reported on Monday.
The newspaper said JPMorgan (JPM.N), Goldman SachsGS.N) and Morgan Stanley (MS.N) that received approval to buy back government stake worth $68 billion earlier this year are among the firms seeking operational efficiencies by outsourcing non-core IT and back-office projects to India.
American Express (AXP.N), Bank of New York MellonBK.N) and Capital One, which have started repaying government debt, were also considering outsourcing, it said.
As a side note to this article, the "jobs market writers" (you know those experts who tell people what education they should get to get those high paying jobs) are pushing for the jobless IT jobs and some are stating that the IT field is coming back, especially in the Financial industry. Go figure that we are going to see more outsourcing in this field and with a country who has poor laws about privacy.
India may get a billion dollars in IT outsourcing contracts.
MUMBAI (Reuters) – Leading Indian outsourcers such as Tata Consultancy (TCS.BO), Infosys (INFY.BO) and Wipro (WIPR.BO) stand to gain contracts worth about $1 billion in the next one or two years as U.S. banks emerge from the troubled asset relief program, the Economic Times reported on Monday.
The newspaper said JPMorgan (JPM.N), Goldman SachsGS.N) and Morgan Stanley (MS.N) that received approval to buy back government stake worth $68 billion earlier this year are among the firms seeking operational efficiencies by outsourcing non-core IT and back-office projects to India.
American Express (AXP.N), Bank of New York MellonBK.N) and Capital One, which have started repaying government debt, were also considering outsourcing, it said.
As a side note to this article, the "jobs market writers" (you know those experts who tell people what education they should get to get those high paying jobs) are pushing for the jobless IT jobs and some are stating that the IT field is coming back, especially in the Financial industry. Go figure that we are going to see more outsourcing in this field and with a country who has poor laws about privacy.