HCL Tech sees era of big IT contracts from US over - Daily News & Analysis

HCL Technologies, the fifth-largest Indian IT services provider, posted its best results since the recession began, but also said that the era of big bang outsourcing deals from the US has come to an end.

Visit http://geicoinsuranceproducts.wordpress.com/ for GEICO Insurance Products News / Reviews.

Indian IT providers had seen a virtual disappearance of deals that generate $100 million or more per year when the recession started two years ago. Despite the recession ending, such deals have been more or less conspicuous by their absence. “The United States has moved to phase two of outsourcing,” Vineet Nayar, CEO, HCL Technologies, said, after announcing the company’s December quarter results.

HCL Tech sees era of big IT contracts from US over - Daily News & Analysis