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Friends

We are living in turbulent times and the economic recession in the key markets for Software and Outsourced Business Services does not give us too much optimism that the demand environment will improve in the near future. That is the primary reason that after a robust first half growth of 24 % in US dollar terms, we have had to downgrade the industry growth numbers for the year ending March 2009 to 16-17%.

The good news is that the industry continues to be a net hirer and the employee base is now over 22 lakhs and growing. While the projects business is slowing down, the outsourcing work continues to show healthy growth giving us the confidence to project a 15 % CAGR for the next two years and an industry level of 60-62 Billion USD in exports by March 2011.

Individual companies will respond differently to the crisis but I am sure that most firms with a sound value proposition, a strong management team and motivated employees will continue to prosper even in these difficult months and come out stronger to capture the next growth wave when it restarts

All the best with your endeavours

Ganesh

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Published on : 5th February 2009 10:12:45
Last modified on : 23rd March 2010 03:45:22

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