IT growth spiked during the pandemic as companies spent big on smaller projects. Now, the flood of small deals has dried up, leaving large deals in the market. But because of how the different deals work, the shift has impacted IT-service revenue. For Indian IT, the dearth of small deals is going to make an already bad FY24 much worse.
The deal, which includes Infosys acquiring Danske Bank's IT centre in India, is for five years with an option to renew for one more year for a maximum of three times.