The agreement with GE will allow Wipro to bid for nearly $1 billion worth of outsourcing projects fleshed out by different business units of GE every year, against rivals Tata Consultancy Services (TCS) and Genpact.
“While it does not in any way guarantee assured contracts, GE is a good account to have for long-term, annuity-based revenues because even if the micro environment is bad, one of the GE units would have something to outsource, offshore,” said a senior executive at one of the tech firms currently serving GE.
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