IT firms rewriting deals to factor in geopolitical risks in ‘permacrisis’ age

IT companies are rewriting contract clauses to factor in geopolitical risks as a major concern in new deals amid what analysts call ‘permacrisis‘ – a state of permanent uncertainty characterised by a continuous cycle of geopolitical disruptions.

Existing geopolitical risks include the US administration’s moves to hike H-1B visa fee and impose a 25% outsourcing tax, while the India-Pakistan tensions earlier this year had led companies to a point of invoking force majeure clauses, industry experts said.

“100% of the client conversations we are having are…