I read this article on net recently which goes like this
Bangalore: India should look at the possible recession in the US positively as domestic IT companies are more cost effective, Infosys Chief Mentor N R Narayana Murthy said.
“The fact that there may be a slowdown in the US means people will become much more concerned over better value for money…we could look at it as an opportunity,” Murthy told reporters on the sidelines of a function here. According to some reports there would be a possible slowdown in the US economy that can make Indian IT industry to cut IT spending.
As US is the major revenue source for Indian IT companies, a possible recession is being looked at as having a negative effect on the topline, Indian IT majors fear.
However, Murthy disagreeing on any such adverse impact said that instead of an adverse effect, it was more likely that India benefits if the US economy, the world’s biggest, witnesses a slowdown
Not sure if the slowdown is inevitable, memories of 2001 and 2002 just went through my mind for a while. By then I was just out of college and had a big time trouble in finding a job. Also, heard from some of my ex-colleagues working at Dell that many were offered with severance package and asked to resign immediately. Now, it is high time to brace up for new troubles.
Agree with Murthy and you. Recession in the US can mean good things for India. Its time for us to strike while the iron is hot – and come of the demand-supply link which chains us to the US market.
Vinay Ganesh says
I cant agree more to what has been said! The US have for long made use of us taking advantage of the fact that we are a developing nation. I dont want to blame US for this. Any nation in the contemporary world would for sure try to grab a foot out of an inch provided to them… and for all reasons, I personally believe that now that we(INDIA) have got an inch in terms of the recession that US is facing, we gotta make yards out of it! Be it students who want to pursue higher studies in the US or be it the IT professionals in India – its time to make an Impact in a grand way!