Mumbai: Leading outsourcers such as Tata Consultancy, Infosys and Wipro stand to gain contracts worth about $1 billion in the next one or two years as US banks emerge from the troubled asset relief programme, the Economic Times reported on Monday.
The newspaper said JPMorgan, Goldman Sachs and Morgan Stanley 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, Bank of New York Mellon and Capital One, which have started repaying government debt, were also considering outsourcing, it said.
(For updates you can share with your friends, follow IBNLive on Facebook, Twitter and Google+)
displayed with permission. Use of the CNN name and/or logo on or as part of CNN-IBN does not derogate from the intellectual property rights of Cable News Network in respect of them.