IT outsourcing kingpins Infosys and Wipro are fighting to protect existing outsourcing contracts valued at over $2 billion, which are currently due to expire at the end of this financial year.

Both firms are struggling to keep up with average industry growth rates, and need to retain key accounts with buyers like AstraZeneca, Bank of America and Apple if they're going to compete with other offshore competitors.

Vishal Sikka, CEO at Infosys, has personally taken charge of a number of top contracts to ensure that the clients involved are retained.

Infosys was founded in 1981 in Pune, but relocated to Bangalore in 1983. Wipro was first incorporated at the end of 1945 in Mumbai. Both companies specialise in IT services and outsourcing.

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