Since the dawn of the global crisis, the Indian IT industry has come under pressure. And it was but natural for this to happen because the industry depends on the developed world for a large part of its revenues. So if the client countries and hence client industries are in trouble, they are obviously not going to award huge deals at premium pricing. For a while the IT companies were optimistic that things would revive when the crisis turned. But now they have learned to work under circumstances that can only be called the new normal. Companies have come to accept that deal sizes are going to be smaller. Pricing is going to get competitive. As a result expecting premium pricing on every deal is not going to work. Interestingly as per Economic Times, the industry is going to see outs ourcing deals worth US$ 50 bn come up for renewal in 2013. This is nearly half the total size of the entire Indian IT industry. This will evoke a new era of competition in the sector at least for this year. Companies that are willing to be flexible and deliver superior quality will emerge as winners. The rest will have to take a backseat.