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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.
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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
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