Issue 67 - 9th February, 2012
Europe opens up to Indian IT The current European crisis has paved the way for increased demand of off shoring and near shoring in Europe with its cost and efficiency benefits. There have been subsequent client additions and strong revenue numbers for Indian IT majors with larger share of multi-million dollar deals being signed in Europe than in the US. In calendar year 2011, top IT companies grew their Europe revenues between 23 to 40% and figures of the recently concluded quarter also indicated double digit growth for most Indian IT majors.
Europe accounts for 20-30% of Indian IT revenues with UK leading, followed by Germany and France. Mid-cap IT companies are also expecting exciting growth opportunities within EU markets.
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