Outsourcing company Genpact Ltd expects a robust 2010, boosted by a ramp in corporate spending and stable pricing, its top executive said.
A lot of spending is coming back which was probably cut back to a point where businesses were not able to sustain themselves, Genpact Chief Executive Pramod Bhasin said.
“I think we have hit bottom and are coming out of it now,” Bhasin told Reuters in an interview.
Echoing its larger Indian peers, such as Tata Consultancy Services Ltd, Infosys Technologies Ltd and Wipro Ltd, Genpact also forecast a better 2010 in terms of deals in the pipeline.
However, the velocity and trajectory of the pace of change is still somewhat uncertain, said Bhasin, who is also the chairman of India’s IT industry lobby, National Association of Software and Service Companies (Nasscom).
“We should be careful not to claim victory too early. How long will this last… what will happen… these are things we should consider carefully,” the 57-year old GE veteran said.
Genpact, which currently operates out of 13 countries, got its start in 1997 as the India-based business process services unit of GE Capital, General Electric Co’s financial services business.
GE spun off Genpact in 2005 but remains its largest client.
Source:http://www.moneycontrol.com/news/business/genpact-sees-strong-2010-eyes-acquisitions_430061.html
