IT Outsourcing slowing for fiscal year 202

43 Billion Dollar outsourcing contracts coming in for renewal in FY 2020. The rate of growth is subdued. But the service contract renewal deals are wide spread. Among these service contract renewals, 50% are coming from Government sector, 20% from Financial and Insurance sectors, 10% from High tech and Telecommunication sector, and the 20% from other sectors.

New contracts have slowed down quite heavily. But renewal of service contracts are keeping the outsourcing sector alive. US, Europe, and India are top three countries issuing these contracts.


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