MUMBAI, INDIA: Leading Indian outsourcers such as Tata Consultancy, Infosys and Wipro 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 , Goldman Sachs and Morgan Stanley 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, Bank of New York Mellon and Capital One, which have started repaying government debt, were also considering outsourcing, it said.