JP Morgan already uses Indian Cognizant and Wipro and its own IDC for up to $400 mln a year in outsourcing business and would be adding another $400 mln, presumably in 100s of billions while rationalising the no. of vendors globally. JP Morgan also signds up with Accenture IDC in India. Accenture and Cognizant are its top two sector picks as well.
Apple aborted its India Development Centre in 2005/6 and now outsources a big $100 mln a year to India, it is looking to grow the same to $400 mln per year After the JP Morgan visit to campuses last week, this week Apple’s O Connor was in town at the end of January promising jobs to Infy and Wipro
Vendor rationalisation was again posted as the main clause of StanChart’s increasing reliance on Indian outsourcing from its SCOPE centre in Chennai hoping to save upto $7 mln a year on it already high rates based on European domicile. SCOPE supports 8500 employees