As the winter recedes and spring is
ready to bloom in the northern hemisphere – the fears of doom and gloom
recede too. If one looks at the IT Industry worldwide with lens of
India-based software service providers, the sense of déjà vu is back.
Fond memories of the good times come rushing back.
Now you may ask; what makes me say
this? After a dismal period ranging from late 2008 to early 2010; the
tide has turned. After few years, this could well be the first year
where Fortune 500 companies may have a year-on-year increase in their
planned IT Spend. Further, the stress that had engulfed everyone from
the Wall Street to the Main Street and everyone in the
middle has dwindled and the early signs of a return to growth have
clearly emerged. The visible trends, sound bites cuts across most
industry verticals which further reinforce the confidence that IT
Industry could register healthy growth in 2011.
You could also ask me; have we gone to
the good old days again? I would say – Well, that is where we want to go
but we are not there yet. While the mood is buoyant, all the pieces of
the jig saw puzzle have not fallen into place yet. There are pockets of
concern particularly in continental Europe which are still battling
sovereign debt, geo-political uncertainties in Middle East, North Africa
and natural calamities in Japan. Hence, it may take a little while
longer for all the regions to buzz in unison. Having sounded the
cautionary tone, the mood has certainly swung in favor of committing
investments; driving growth and leveraging the winds of change.
If you agree with this, you may ask –
what does the return to growth mean to me? It certainly signals good
times! It means the activity levels will remain high. New clients will
be added. New deals will be signed. The clients will reap the benefits
of IT Outsourcing and the Service Providers
will deliver value. The economics will work in favor of both economies
and the employees at both sides will be happy to see more greenbacks (or
whatever the color of your currency).
So, join me in ushering in the Good Times again!
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The author of the piece is: Sreenivas V. He is the Chief Strategy Officer at Hexaware Technologies Limited. The contents on the blog above are his personal views.
