- Saturday, 11 July 2009
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Fascism should more properly be called corporatism, since it is the merger of state and corporate power - Benito Mussolini
Indian software market booming
WHILE the US software industry is dying slowly Indian software houses are making up the slack, it seems.
According to AP, India's software service and outsourcing industries are likely to grow by a third this year.
While the US remains the Indian software industry's biggest market with a share of 61 per cent it looks like that market will dry up this year. However, while they can't get customers in the US, it seems most of their business is in Europe.
Som Mittal, president of the Indian National Association of Software and Services Companies, or NASSCOM, said it made a lot of sense for Indian software companies to stop thinking about the US for a bit.
He said that sharp Indian software companies could earn up to $64 billion from April 2007 to March 2008.
More than 18 per cent of the cash will come from Blighty and continental Europe will make up another 12 percent, Mittal said.
More here. µ
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Nothing like poorly coded software and terrible documentation strait from India
Its in the biggest slump in years!!!!

Projects have dried up!

Hiring was minimal in the last fiscal year!

IBM, last years biggest hirer didnt conduct a single "OffCampus" Placement drive, and the ones it did pick right off the most prestigious institutes are still awaiting a date, more than 8 months post completion of their degrees!

Infosys, Satyam and TCS didnt conduct any major drive all most of 2007, all drives postponed to 2008!
Accenture had the maximum intake, but soon realised that it had no work on hand! So everyones put on hold, its still trying to fit in the last few hundreds HOPING thats some of them would be thrown out in the rigorous training process, to make room!

Companies are firing employees left right and centre!
TCS fired over 500 employees!
Accenture fired around 1200 benchers!
IBM fired around 900!
Other significant numbers for Infosys Satyam etc!

All fresh recruits are on hold! Fresh Joinee's have been postporned to the nest fiscal!
I know, im on the recieving end!

And with the Sensex plummeting, or now unstable, this trend would take time to mend! The rupee gained too much comapred to the Dollar! Its on a 11 year high!
Judgement day, anyone? Wot's Dubya doing??? Does he need Iran to stabalize the economy now? Or Korea?