<p>Bengaluru: India's largest IT firm Tata Consultancy Services has bagged a 550 million euro ($643.89 million or Rs 5.38 thousand crore) order from Scandinavian insurance firm Tryg , the company said on Tuesday, announcing its first mega deal this fiscal year.</p>.<p>Mega deals, which are typically worth more than $500 million, are key revenue drivers for IT services companies.</p>.<p>TCS, during the seven-year deal tenure, will leverage its suite of AI and cloud solutions across Tryg’s entire IT operations, the company said.</p>.<p>India's $283 billion IT sector has been facing a rough patch as clients hold back non-essential spending because of weak demand, persistent inflation and lingering uncertainty over US trade policies.</p>.India mulls steep GST hike on luxury EVs; Tesla and BMW in the firing line.<p>Mega deals have become a rarity in the current demand environment.</p>.<p>TCS Chief Executive K Krithivasan, in July, flagged that there were delays in client decision-making and project starts.</p>.<p>In late July, TCS also announced laying off 2% or 12,000 employees, mostly mid- and senior-level roles.</p>.<p><em>($1 = 0.8542 euros)</em> </p>
<p>Bengaluru: India's largest IT firm Tata Consultancy Services has bagged a 550 million euro ($643.89 million or Rs 5.38 thousand crore) order from Scandinavian insurance firm Tryg , the company said on Tuesday, announcing its first mega deal this fiscal year.</p>.<p>Mega deals, which are typically worth more than $500 million, are key revenue drivers for IT services companies.</p>.<p>TCS, during the seven-year deal tenure, will leverage its suite of AI and cloud solutions across Tryg’s entire IT operations, the company said.</p>.<p>India's $283 billion IT sector has been facing a rough patch as clients hold back non-essential spending because of weak demand, persistent inflation and lingering uncertainty over US trade policies.</p>.India mulls steep GST hike on luxury EVs; Tesla and BMW in the firing line.<p>Mega deals have become a rarity in the current demand environment.</p>.<p>TCS Chief Executive K Krithivasan, in July, flagged that there were delays in client decision-making and project starts.</p>.<p>In late July, TCS also announced laying off 2% or 12,000 employees, mostly mid- and senior-level roles.</p>.<p><em>($1 = 0.8542 euros)</em> </p>