<ul><li>India's $245 billion IT sector is grappling with tougher contract terms as it competes for fewer orders in an uncertain global economy. The sector, which flourished during the pandemic-driven digital services boom, is now facing challenges as clients reduce spending on discretionary projects amid inflation and recession fears. </li><li>Companies like Tata Consultancy Services, Infosys, and HCLTech are accepting conditions such as guaranteeing cost savings and billing based on achieving specific goals.</li><li>This reflects a buyer's market, reminiscent of economic challenges in 2008 and 2001, pushing IT firms to navigate the complexities of an increasingly demanding client landscape.</li></ul>

India's $245 billion IT sector swallows tougher terms amid scramble for contracts

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