Doomsday predictions not withstanding domestic IT companies are hoping to dig for gold in the rubble from the collapse of some of the biggest financial giants in the US and perhaps in other regions that could follow. The global financial crisis they believe could in fact result in bigger volumes of IT outsourcing they believe as the banking, financial services and insurance BFSI, majors are forced to cut costs and improve efficiencies.
For instance, Vineet Nayar, CEO of HCL Technologies Ltd, is looking at capitalising on the zones of frustration of the IT clients.
That is what the company had done during the 200001 dotcom bust.
We believe in converting threats into opportunities. During the previous slowdown also we did the same, we will do it again. In my view, 200809 will be a watershed year for the Indian IT industry, where we will see volume surge, and tech companies offering new services and entering new geographies, said Nayar.
Srinivas Vadlamani, chief financial officer CFO, Satyam Computer Services seconds that. The contrarian theory will come into play the same as in 2000 01.
0 comments:
Post a Comment