Indian IT firms are winning large deals in Europe, helped by the greater investments they are making in that geography, and the rising propensity of European players to outsource more of their technology work. TCS, Infosys, Wipro and Mindtree have all reported positive growth in the last 5-6 quarters on constant currency even as growth was flat or negative in the main North American market. Continental Europe still represents a small pie in the revenue, but analysts expect it to go up in the coming days.
“The Indian heritage firms are fairing particularly well as they have lower operating costs and are also leveraging their balance sheets aggressively to win these large transactions. Firms such as TCS, HCL, Infosys and Wipro have been patiently investing in putting in place large and talented European operations and are now in the position to be rewarded for these investments,” Peter Bendor-Samuel, CEO of Everest Group, said.
