Over $1 billion (about Rs 6,500 crore)worth outsourcing contracts from companies such as US retailer Gap and British telecom firm Vodafone are coming up for renewal over the next one year.
As per the outsourcing advisory ISG, at least six such deals are set to expire in 2016.It was also found that nearly $250 billion worth of deals are set to be renewed over the course of the next 36 months. Multinational rivals like IBM and Hewlett-Packard are expecting to renew these contracts and at the same time home-grown software exporters such as Tata Consultancy Services and Infosys are looking to grab the deals from them.
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