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Anti-Wall Street sentiment to take a toll on Indian IT
By SiliconIndia | Monday, 21 December 2009, 19:15 Hrs
Indian IT firms have started feeling the effects already. Some banking customers are asking more projects to be delivered onsite in order to be seen as local 'job creators'. What could work in the favour of Indian IT firms is that outsourcing is still attractive for foreign firms. Offshoring has proved to be an effective tool to cut operational costs by up to 40 percent, making it difficult for them to shelve such projects, especially at a time when they desparately need to cut costs.
TCS, Infosys, Wipro and Cognizant continue to see a surge in business from Citigroup, JP Morgan and ABN Amro. They must be hoping that the good times will continue.
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