2010 IT budgets to remain unchanged or lower: Infy

Subscribe to Oneindia News

Clients are still wary: Infosys
Mumbai, Nov 20: Despite few signs pointing towards recovery from the global economic slump, India's leading software exporter Infosys predicts that the 2010 IT budgets would remain on the lower side or unchanged as the clients are still cautious.

"Past patterns suggest that when budgets are under pressure, clients do all kinds of things to get more with less, like outsourcing and offshoring," Infosys Chief Operating Officer SD Shibulal said on the sidelines of a conference.

The global economic slowdown has severely affected companies like Infosys as their customers have either scrapped or delay projects, or the company is forced to provide products and services for lower prices.

Shibulal said that the clients believe that the recovery process would be extended over an long period of time forcing them to remain wary of spending.

"We will continue with our strategy of taking hedging positions for the short-term. We are not going to take any long-term view at this point in time," he informed.

On the positive, the clients have noted that the worst of the crisis for the software outsourcing industry is over which is leading them to make changes on their IT spending, Shibulal added.

OneIndia News

Please Wait while comments are loading...