India may get $1 bln IT outsourcing contracts-paper

MUMBAI, Nov 23 (Reuters) - Leading Indian outsourcers such as Tata Consultancy (TCS.BO: Quote, Profile, Research), Infosys (INFY.BO: Quote, Profile, Research) and Wipro (WIPR.BO: Quote, Profile, Research) stand to gain contracts worth about $1 billion in the next one or two years as U.S. banks emerge from the troubled asset relief programme, the Economic Times reported on Monday.

The newspaper said JPMorgan (JPM.N: Quote, Profile, Research), Goldman Sachs (GS.N: Quote, Profile, Research) and Morgan Stanley (MS.N: Quote, Profile, Research) that received approval to buy back government stake worth $68 billion earlier this year are among the firms seeking operational efficiencies by outsourcing non-core IT and back-office projects to India.

American Express (AXP.N: Quote, Profile, Research), Bank of New York Mellon (BK.N: Quote, Profile, Research) and Capital One, which have started repaying government debt, were also considering outsourcing, it said. (Writing by Devidutta Tripathy; Editing by Ranjit Gangadharan) ((devidutta.tripathy@thomsonreuters.com; +91 11 4178 1009; Reuters Messaging: devidutta.tripathy.reuters.com@reuters.net)) ((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com))