Delayed payments, lower profits discourage IT firms to bid for government contracts

Posted on 15th May 2014 | 1010 views

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Delayed payments, lower profits discourage IT firms to bid for government contracts

Delayed payments and lower profit margins have been discouraging software giants like Infosys, mindtree and HCL. Earlier these companies have worked for government projects like Aadhar and postal department. But now companies are prefer to work for private sector deals. In fiscal year 2013-14, the government spent close to Rs 20,000-crore on IT, according to Nasscom. Ajit Kumar, president at India's fourth-largest software outsourcer HCL Technologies, express that it has become increasingly "tough to make money out of technology services in India" as a large chunk of the spending is by government. "We have learnt lessons from government contracts".

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