Wipro Ltd sees a revival in the demand for outsourcing services in the second half of this year as global firms look to cut costs,the joint-CEO of its IT business said on Monday.
“At least based on what we have seen,I would say that there is lot more stability at this point of time,” Girish Paranjpe said.
“Hopefully there will be some improvement post summer… second half of this year.”
India’s third-largest software services exporter was facing demand for price cuts from some of its clients but the company was able to mitigate its impact by measures such as moving more work to low-cost centres in India,he said.
A large pool of English-speaking engineers and cheaper wages drove an outsourcing boom in India,but turmoil in global markets and a recession in the United States,which accounts for more than half the sector’s revenue,have halted the scorching pace of growth.