Tata Consultancy Services (TCS), India's largest software services exporter, has won a $2.2 billion deal from UK based Insurance provider 'Friends Life'.
The 15-year contract from Friends Life for TCS unit Diligenta comes as the Indian IT sector looks to overcome stiff competition and a gloomy economic outlook. Europe is the second largest market for the software firms, and the euro zone debt crisis is a worry for the sector that has been looking to increase its sales to the region to hedge against their excessive exposure to the United States.
The 15-year contract from Friends Life for TCS unit Diligenta comes as the Indian IT sector looks to overcome stiff competition and a gloomy economic outlook. Europe is the second largest market for the software firms, and the euro zone debt crisis is a worry for the sector that has been looking to increase its sales to the region to hedge against their excessive exposure to the United States.
TCS, Tata Group conglomerate, said last month it does not expect to increase its prices in the near term due to global economic uncertainty.
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