IT’S HEYDAY FOR INDIAN TECH COMPANIES. ACCORDING TO CHAIRMAN AND CEO OF BUSINESS PUBLISHER “FORBES”, “INDIA IS SET TO BECOME GLOBAL LEADER IN TECHNOLOGY SERVICES “. THE MAIN REASON BEHIND THIS EFFLORESCENCE BECAUSE OF WEAKENING OF US DOLLAR. INDIAN SOFTWARE GIANTS LIKE TCS, INFOSYS , WIPRO ETC HAVE WITHSTOOD THE GLOBAL ECONOMIC MELTDOWN IN A VERY UNRUFFLED WAY.
THE TEMPO OF THE ECONOMIC GROWTH IN INDIA HAS HELPED THE COUNTRY ABLE TO WEATHER THE CRISIS VERY WELL. GOVERNMENT SUPPORT SHOULD BE THERE ADEQUATELY IN TERMS OF INFRASTRUCTURE AND FOR THE DEVELOPMENT OF THE NATION.
IN 2008-2009, THE INDIAN ECONOMY ROSE 6.7%, WHILE IT WAS EXPECTED TO GROW 6% IN THE CURRENT FISCAL YEAR. GOVERNMENT SHOULD CONCENTRATE MORE ON SIMPLIFYING THE TAX CODE AND REDUCING THE TAX RATE. FOREIGN INSTITUTIONAL INVESTMENTS (FII) SHOULD BE THE NEXT BIG THING IN THE AGENDA.
A BIG BALLYHOO WAS CREATED ABOUT THE MONSOON RAIN DEFICIT, BUT I THINK THE INDIAN IT (INFORMATION TECHNOLOGY) COMPANIES CAN BEAT THE MONSOON BLUES.
THE IT SECTOR WOULD BE THE FIRST TO TAKE THE ADVANTAGE OF THE RECOVERY OF GLOBAL ECONOMIC IMBROGLIO. THE IT SECTOR IS THE NEXT HARBINGER AS BAD MONSOON MAKE INVESTMENTS IN OTHER SECTORS LESS ATTRACTIVE. Q2 RESULTS OF TCS,INFOSYS ETC SEEMS TO BE VERY HEALTHY.
THE IT BELLWETHER INFOSYS TECHNOLOGIES HAS BEEN NAMED AMONG THE WORLD’S 100 FASTEST GROWING COMPANIES BY AMERICAN PUBLICATION FORTUNE. COGNIZANT IS RANKED 90. COMPANIES LIKE TCS, INFOSYS, BHARTI AIRTEL HUL ETC HAS BEEN RATED AS INDIA’S MOST ADMIRED COMPANIES.
THERE IS LOT OF POTENTIAL AMONG INDIAN IT COMPANIES TO BECOME GLOBAL LEADER. THEY ARE ALREADY GLOBAL PLAYERS IN CERTAIN ARENAS. ALL WE NEED IS THAT THE BUREACRATIC PROCEDURES TO BE SIMPLIFIED TO FACILITATE ENTREPRENEURSHIP
The above explanation written by Avra, is partly true for the slacken pace of the market .I think that there are some other factors incorporated into making this present economy crunch.But what has been written about the downfall of the economy by Avra is unarguably true. I completely agree with that above mentioned explanation and fully support the reasons raised by Avra.
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ReplyDeleteIn the brief explanation,what Avra writes about Indian growth is economically true.One flaw about the explanation,I'd like to mention that our tech giants mainly depends on exporting S/W so if dollar is weakening against rupee,it'd directly affect our tech sector,and it already happened.It does not at all efflorescence our export sector.Yes,it was profitable for our import sector.And the other thing which worries me a lot that all of our firms are not focusing
ReplyDeleteon research.India is far ahead in the sector like Robotics,AI which are mainly based on research oriented.It's true that India has already become the global hub for investors for it's large market after China, but our Govt. should empower the growth with 1/3rd of our backward starve citizen.So I partially agree with the above explanation written by Avra.