IT ITES Downtrends

Among the Asian markets, India plays a major role in IT and ITES outsourcing. The current global down trends are highly influencing the Indian IT and ITES industries. This influence is acting in negative and positive directions simultaneously on Indian IT companies. The adverse effect of the IT down trend includes all sorts of cost cutting measures taken by multi national conglomerates. These are resulting in firing of thousands of IT and ITES employees by almost all the IT majors. To withstand the global IT down trends, the corporate are also planning to cut down all the luxurious benefits offered to their employees. A few of the IT majors are also planning to reduce the salary packages of their employees in order to ensure their survival in the market. The best and the most noticeable attribute from the IT employees is that they are with standing the adverse effects in their careers.

As commented by majority of the analysts, India and other Asian markets are also getting a positive opportunity to widen or expand their scope of services. The expansion of the scope of their services includes the IT majors entering into non-IT businesses. Some of the most profitable business, which the IT majors are interested into entering, includes knowledge process outsourcing, business process outsourcing, and data analytics. One of the advantages of the Indian IT companies getting into non-IT business is that they can easily get the required and highly talented skill sets at considerably lower salary packages. Thus it is proven that the IT downtrend is also a coin with two faces called pros and cons.