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India’s top information technology (IT) services players, including Tata Consultancy Services (TCS), Infosys, HCLTech, and Wipro, have deals worth $13 billion (about ₹114,400 crore) up for renewal in the six months to December-end, according to a report by The Economic Times. Deals worth $14 billion were renewed in 2024.
As reported earlier by Business Standard, $20 billion worth of IT contracts were up for renewal this year. These renewals are particularly significant as they come at a time when US-imposed tariffs and global macroeconomic uncertainties have created a cloud of uncertainty.
600 deals up for renewal
According to US-based research firm Everest Group, over 600 agreements are coming up for renewals in the second half of 2025, with average sizes of $20 million to over $1 billion, with some even exceeding $2 billion, The Economic Times report mentioned.
Major upcoming renewals include:
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- TCS: Partnerships with Star Alliance and Nielsen
- Infosys: Mega deals with Daimler AG and GE Appliances
- HCLTech: Agreements with Ericsson (Sweden) and Chesnara (UK insurer)
- Wipro: Contracts with E.ON (Germany), Fortum (Finland), and Petrobras (Brazil)
Challenges facing the industry
The IT industry has been grappling with low single-digit growth for a second consecutive year. It is battered by a weak global economic backdrop and the fallout from US tariffs that have drained momentum from manufacturing and retail sectors.
Major IT players also announced mass layoffs and paused salary hikes earlier this year. In July, TCS announced plans to lay off 12,000 employees – that’s 2 per cent of its global workforce this year – making it one of the biggest job cuts for the Tata group company.
Meanwhile, reports that US President Donald Trump is planning to block American companies from outsourcing technology work to Indian providers have kept domestic IT firms on edge. The concern is significant, given the heavy reliance of these companies on the US market.
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