'Feel good factor' in economy after sometime:Natrajan

Written by:
Subscribe to Oneindia News

Ahmedabad, Nov 03 (UNI) Dr Ganesh Natarajan, Chairman - NASSCOM&Global CEO of Zensar, today said Indians across all sectors will face some fallout from the continuing decline of the markets and organisations in the USA.

''But there is a confidence that the worst will be over in the next few months and it may well be the "feel good" factor with the election of new US president that will see the beginning of a new future for America, India and rest of the free world.

Delivering the convocation address at the 6th Convocation of Nirma University of Science and Technology, Dr Natarajan said ''implications of the US meltdown are clear. We are no longer decoupled from the global economy and all sectors, whether it is IT or BPO, which are directly linked to the fortunes of global business or retail, manufaturing and real estate which depend on the propserity of the citizens to succeed or even our own banking and financial services industries which rely on free capital flows to remain buyoant, will need to gird themselves for a period of uncertainty and start building strategies and new capabilities for success in the future''.

Dr Natrajan expects IT companies to grow at 20 percent in 2009.

The next six months would be difficult for IT companies, he feels.

However, he doesn't agree with the assumption that first half of the next year will be riskier. He said that irrespective of the deepening recession, the outsourcing spend would rise.

He congratulated the students for their achievements and wished them the best for their bright careers. 65 medals were awarded for scholastic performance or for the Best Student in the different programmes.


Please Wait while comments are loading...