FILE PHOTO: Employees walk in front of a pyramid-shaped building at the Infosys campus in the Electronic City area of Bangalore September 4, 2012. REUTERS/Vivek Prakash/File Photo
BENGALURU - India's information technology firms are accepting tougher contract terms to win large deals from clients as they compete for fewer orders in an uncertain global economy, industry insiders and analysts say.
The $245-billion sector, which gained immensely from the pandemic-induced boom in digital services, has struggled in recent quarters as clients slashed spending on discretionary projects amid inflationary pressures and recession fears.
