Germany’s attraction to Indian IT companies increased, orders worth Rs 4 lakh crore given in few months

The coronavirus epidemic has had a profound impact on the country’s economy. GDP declined by 23.9 percent in the June quarter. However, according to the estimates of experts, it is expected to increase further. Meanwhile, the good news for the Indian economy is that the demand for Indian IT companies has increased significantly in Germany, the world’s fourth-largest economy. In such a situation, many big German companies are outsourcing Indian companies for the first time.

Germany’s attraction to Indian IT companies increased

America has always been the biggest market for Indian IT companies, but now European country Germany is also growing in attraction towards Indian IT companies. Prior to this, major companies in Germany had never outsourced such large amounts in India.

Indian IT industry will grow

Actually, due to coronavirus, these companies have cut costs. So these companies have had to turn to Indian IT companies. Indian IT companies are expected to outsource from Germany about 40 to 50 billion dollars i.e. about three to four lakh crore rupees. This will lead to the rapid growth of the Indian IT industry.

Deals with these Indian companies

Companies that have received large orders from Germany include Tata Consultancy Services (TCS), Infosys and Wipro. In the last six months, deals worth about $14.7 billion, or about one lakh crore rupees have been signed. Infosys has a deal with Daimler, Wipro has a Rs 5,000 crore deal with Metro AG. TCS has taken over Deutsche Bank’s IT arm Postbank System with 1500 employees from Germany.

As per the report, Tata Consultancy Services has become the third-largest Information Technology (IT) service firm globally. In this case, the names of Accenture and IBM are at the first two places.