Hyderabad: Results of a survey by technology researcher Gartner Inc. released Monday said chief executives in the US and the UK have gone from cost-cutting to revenue-generation mode in 2010, confirming the optimism shown by Indian information technology (IT) firms this year.
“Business leaders...are expecting to increase the importance of IT in their post-recession approach,” said Mark Raskino, vice-president (research), in a statement. As many as 71% of those surveyed said they will focus on growing revenue than on cutting costs.
Indian IT firms exported services worth at least $50 billion (Rs2.33 trillion) in fiscal 2009, according to industry body Nasscom, or the National Association of Software and Services Companies. The US and the UK account for around 70% of the revenue for India’s top IT firms. While announcing their September quarter results, firms such as Tata Consultancy Services Ltd, Infosys Technologies Ltd and Wipro Ltd had said they expected IT spending to pick up in 2010.
The survey was conducted in the September quarter among 190 executives, including 81 chief executives. The participants were from the US and the UK firms that had annual revenues of at least $1 billion.