Indian information technlogy (IT) services firms,mainly dependent on export earnings from US and European markets, have been severely affected post-September 2008, as clients cut their budgets. Indian IT firms emerged stronger from the crisis by trimming the flab and retooling their strategy. They started offering a wider array of services and enhanced their geographical footprint.
Also See How vendors increased profitability (Graphics)
Tata Consultancy Services (TCS), Infosys Technologies, Wipro, HCL Technologies and Cognizant Technology Solutions have, therefore, been able to report positive revenue and profit growth even as large chunks of the global economy shrunk.
As customers started spending sfrom the investments they made during the downturn. A Forrester Research report says the work carried out by these companies in the future will be substantially different from what they execute at present, in terms of complexity, the nature of work, deal and pricing models, and the way the work will be delivered to the clients.
Compiled by Venkatesha Babu & Lison Joseph
Graphics by Ahmed Raza Khan/Mint