Will Indian IT sector return to ‘business as usual’ situation in 2010?

We all know what was the condition of Indian IT sector last year at this time. It was the most affected area in the recession. It was the sector which was affected the most facing a huge loss causing the job loss of thousands of employees.

Thankfully, in the first year after the global economic crisis, the information technology (IT) sector has delivered some exponential growth numbers. Most tech majors made handsome gains as overseas orders increased in number along with IT spends showing improvement. The IT sector is slowly coming out of the nightmare it faced last year. But, with the emerging of outsourcing companies in other South East Asia, India is facing a stiff competition.  So I want to ask you all whether the Indian IT sector again will return to ‘business as usual’ situation in 2010?

Vivek says “There is more scope for winning outsourcing deals. If you look at last two quarter client acquisition position with all IT companies in India they have won good deals. Still they expect to win a lot. US great depression will take atleast two more years to come back to development path. They need more fiscal support and need to cut cost too which is the only advantage for us. Their system will need more transparency which will business in Banking in terms of technology needs. If we look at the global economy now other than UK, US almost all countries are in recovery stage. There might be few changes in the global scenario because of China, Middle east and few other countries but still our economy is said to be better than all of these”

one of my said “I agree that Indian IT sector will return to its old speed but I don’t think that will happen in 2010. I think this process will still take some 1-2 more years. The amount of loss IT sector has faced is huge and its not going to get fulfilled by merely 4%-7% growth. But its good that at least IT sector has recovered very fast and Iam sure it will get its old speed very soon. But it won’t happen in 2010”.

Lets see how the IT sector will shape….

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