{
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citigroup shifts strategy to reduce reliance on external it contractors

Citigroup plans to reduce its reliance on external IT contractors from 50% to 20%, focusing on building in-house capabilities. This strategic shift raises concerns for Indian IT firms like TCS, Wipro, and LTIMindtree, which have significant business ties with Citi. Experts suggest that while this may impact larger IT service providers, it could ultimately benefit India's core banking operations and expertise in the long run.
article
United States Dollar Standard Chartered PLC Citigroup Inc. Accenture plc Polaris Inc. UWS JP Morgan EM A OSB Everest Group, Ltd. LTIMindtree Limited Citizens, Inc. Wipro Ltd IND Phil Fersht Don Callahan Ronak Doshi Tim Ryan Show more
Business & Industry, Market Report
08:24 21.03.2025

impact of federal spending cuts on indian it companies under doge leadership

Elon Musk's leadership of the Department of Government Efficiency (DOGE) is set to impact federal contracts, primarily affecting consulting-focused technology firms. However, Indian IT companies, which mainly engage with state and local governments, are expected to experience minimal effects, as their exposure to US federal contracts is less than 2% of their revenue. Analysts suggest that while some firms may face challenges, the overall impact on the Indian IT sector will be negligible, with potential opportunities arising from increased federal technology spending.
article
United States Dollar IND USA Nithin Kamath Ramkumar Ramamoorthy Phil Fersht Prashant Shukla Elon Musk Show more
Business & Industry, Market Report
07:48 05.03.2025
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