IN retrospect, 2009 was a crucial year; a year of mixed fortunes, economic instability, elections in India and US. The year held much importance following the 2008 global meltdown. It was supposed to define if the world was indeed in slump or could try and shake the feeling of gloom and start on a path of recovery.
For the first time in the industry’s history, the Indian IT sector logged in negative QoQ growth. The year was further embroiled with immense debate and introspection on the issue of corporate governance, triggered by the Satyam Computers’ financial fraud; and to credit the government, quick reaction and efforts in constituting a new board to salvage Satyam’s customers and retaining the company’s staff helped.
Despite the setbacks, things did begin to look up, as elections brought political stability in India, reflected in UPA government’s coming back into power with a strong majority.
Elections in US caused a global stir; Election of Democrat leader Barack Obama was expected to usher in changes in the country’s foreign policy and economic strategy. While the bailout measures initiated by the Obama government were much needed, certain laws introduced by the administration raised concerns about protectionism and outsourcing even though they never directly impacted the Indian economy.
NASSCOM and the Indian IT-BPO industry are continuing to engage with the US government to create awareness about the value of the industry that contributes to the US economy.
The Indian companies worked towards improving their cost efficiency and driving customer behaviour. New business models emerged, as companies took the path of innovation attuning to customer needs and to remain competitive.
With such developments, towards the end of 2009, first signs of recovery from the global meltdown have emerged.
2010 will see a rise in hiring in the IT-BPO industry, accompanied by a renewed focus on employee engagement as organizations are looking at initiatives to strengthen the bonds with employees.
Companies will also look at expanding their manpower base and hire more domain experts with specialized skill sets.
The UID project under Nandan Nilekani was also launched in 2009.
E-Governance will be in focus in 2010, as many pilot projects will go live. Government departments and organisations are expected to launch several egovernance initiatives aimed at improving their interface with the citizens of the country.
And though the Budget 2009 was only a little boost to the Indian IT Industry, we at NASSCOM are hopeful that budget 2010 will be supportive of the ITBPO industry and create a regulatory climate which is even more conducive to doing business in and with India.
Source: http://www.expressbuzz.com/edition/story.aspx?Title=2010:+Hopes+of+a+boost+and+a+conducive+climate&artid=WcnvJUzA7qs=&SectionID=Qz/kHVp9tEs=&MainSectionID=wIcBMLGbUJI=&SectionName=UOaHCPTTmuP3XGzZRCAUTQ==&SEO=
