IT companies eye $80-billion pie as contracts up for renewal in 2019

Indian players traditionally quite active in deal renewal space

Information technology (IT) services players globally are snapping up contracts worth around $80 billion because these are coming up for renewal this year.

Even though a vast chunk of these deals are in defence, historically Indian players have been the major beneficiaries in the renewal market, garnering share each passing year.

Especially given the fact that a number of deals to be renewed are in areas such as banking, financial services and insurance (BFSI), telecom, technology and communication, and hi-tech, there are traditionally the sweet spots for Indian IT services majors such as Tata Consultancy Services (TCS) and Wipro.

“Historically, domestic IT firms