Shaky US economy spooks IT firms (India)

[OhioChick]

< MONDAY, MARCH 19, 2007 01:30:39 AM>

NEW DELHI: With fears of a possible US economic slowdown spooking the markets globally, the $31-billion Indian IT export industry has stepped up vigil on the US market, maintaining close contact with clients to detect early warning signs.

For now, client spends are on track, says the Indian tech industry, as it is far too early to predict whether the risky mortgages would push the US economy over the brink.

"We are in constant touch with our customers, and they tell us there is no impact as of now. The IT budgets are on track and there has been no reduction in spends. We are keeping a close watch on the developments. There are no clear indications yet," Kris Gopalakrishnan, president, joint MD & COO, Infosys Technologies said.

The stakes, nevertheless, remain high for India’s booming tech industry whose fortunes are still largely dependent on the North American market, despite ongoing attempts to spread exposure wider to newer geographies. The IT industry derives anywhere up to 60-70% of its export revenue from the US market. The US and the Europe together account for about 80% of the India's high-tech export basket.

http://economictimes.indiatimes.com/News/News_By_Industry/Infotech/ITeS/Shaky_US_economy_spooks_IT_firms/articleshow/1776336.cms

[lostnotforgotten]

1. 31 Billion Of Outsourced US Jobs - Thanks Dubya!

eom

[Greyhound]

2. Gotta remind you that this was brought about under Bill "corporate dawg" Clinton

and merely maintained by arbusto_® & the squatters. I was there, I lived it.

[lostnotforgotten]

3. Maybe So, What Has Bushco Done To Reverse The Hemorrhage?

eom

[Greyhound]

4. Not a thing, and no maybe. Just one of the things both parties agree on

in order to screw us over, and keep their campaign donors happy.

[OhioChick]

5. I Couldn't Agree With You More. n/t