IT industry would take significant time to recover: iGate
IT industry would take significant time to recover; will see larger focus on BPOs in India; feels that 2010 IT spends will be 2-3% higher than 2009; revenue growth is real challenge for Mahindra Satyam: Phaneesh Murthy
Phaneesh Murthy, CEO, iGate says that IT industry would take significant time to recover. IT industry will make up for losses over next few quarters. He will see larger focus on BPOs in India. The vendor consolidation happens in waves. The customers have become value conscious & risk averse. He feels that 2010 IT spends will be 2-3% higher than 2009. He is not sure if Satyam has turned around. The revenue growth is real challenge for Mahindra Satyam. One will have to see Mahindra Satyam‘s revenue over 12-18 months. The recovery for IT sector to be gradual. WNS is difficult transaction to pull off.
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