The near recession in the US and the global meltdown will, of course, have its impact on India's high-tech industry, as it is one of the greatest financial crises of our globalized times.
This was bad news. The Indian tech and business process outsourcing (BPO) services industry is strongly dependent on North America, and specifically on the sector that we call 'BSFI' - banking, financial services, and insurance
A few large institutions have melted away. They were outsourcing to India, directly as well as through other US-based services majors who had delivery centres in India. This has of course meant some impact on business
- For some time now, new deals have slowed down, and turnaround time for signing contracts has increased
- There is increasing pressure on companies to minimize their 'bench' or the currently idle employees.
Recruitments thus slowed, and campus offers stayed pending
These will generate new opportunities for low-cost high quality services, especially the mergers
- A recession is all the more reason to cut costs and become more competitive on quality. Hence, more need to outsource and offshore.
The market is not reacting to fundamentals, but is overreacting in panic. It is also reacting to rumors. Take ICICI Bank. Each day I bought ICICI stock, figuring it couldn't go any lower, it would drop 5 per cent the next morning.
Yet,Indian services vendors have an opportunity waiting. There are factors in their favor. The dollar has swung very hard in the other direction now. India's brand image and reputation of services expertise in a range of areas, beginning with financial services but now extending to telecom, engineering services and medicine and more is on the rise.
but the fittest will survive - and emerge stronger. And many will find opportunity in the crisis.
Now I will tell u one thing..
This is the right time to take a decision..so DECIDE for this...be in the front at the right time at the right place my friends..
JOIN RMP AND SEE FOR YOURSELF IN THE NEXT SIX MNTHS TO MAX ONE YEAR
Company's website : www.rmpinfotec.biz
FOR DETAILS CONTACT MUKESH 9930950169 MUMBAI, EMAIL: makrmp@gmail.com
ALL THE BEST TO ALL OF YOU
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