જોખ 30 billion IT outsourcing agreement at risk

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Mumbai, Ta. 19 June 2020, Friday

Amidst the uncertain environment of demand, challenges have arisen against the outsourcing agreements of IT companies. An estimated અ 20 billion worth of outsourcing contracts are to be renewed in the next three months, which is expected to have a negative impact on IT companies.

Fifty per cent of the contracts pending for renewal will be delayed in the near future, while the other 50 per cent will have to be discounted by the companies if they come up with cheaper rates, said an IT expert.

Outsourcing contracts worth 20 billion are to be renewed in the next three months. The coronavirus has severely affected service sectors such as hospitality, airlines and tours and travels. These areas of contract renewal do not seem to be in the mood until the trade is recovered. Only the most essential IT services will be selected.

Generally, the first two quarters of a financial year, April to September, are the best months for IT service companies to get jobs. During this period, companies budget for new projects, the sources said.

However Corona's trade impact has forced companies in various sectors to cut their IT costs. As of April, ના 4 billion worth of projects have stalled. According to a report, global IT spending is expected to fall by 7% to ૯૫૨ 2.50 billion by 2020.


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