Top Indian IT services companies are witnessing an uptick in large and mega deals in specific sectors like banking, financial services and insurance (BFSI) as they turn to technology to optimise costs in the current uncertain economic environment.
“There will be some large deal initiatives as the current macroeconomic situation develops and clients want to optimise costs as well as provider consolidation strategies mature, similar to the pandemic where we saw a one-time increase in large deals. This is likely to be triggered by account or industry-specific issues and not a change in deal trends for the long term…We see BFSI firms often taking significant measures in a recession or financial downturn to optimise costs,” said Nitish Mittal, Partner, Europe Technology Practice, Everest Group.
