Leading Indian outsourcers who maintain technology operations for clients such as General Electric and Citigroup have been on a hiring spree and have given pay hikes of up to 20 percent to ward off poaching by global rivals.
Tata Consultancy Services, Infosys Technologies and Wipro, the top three outsourcers, get more than 90 percent of their revenue from overseas.
“The outlook for the IT firms, especially the larger ones, looks positive in the short term. Volumes are growing. The U.S. economy is shaping up better than expected,” said Mahesh Patil, head of equities, domestic assets, at Birla Sun Life Asset Management.
Infosys, a trend-setter for India’s $60 billion outsourcing sector, kicks off the earnings season on Thursday, with analysts expecting it to raise its fiscal 2010/11 dollar revenue growth outlook to 27-28 percent.
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