Distress and Optimism

The current financial crisis is probably the worst after the great american depression in the early nineteenth century. With the bankruptcy of Lehman Brothers, now the question in everyone's mind is whether the Financial world going to survive this hard phase. The top indian IT companies have finance as one of their most important verticals in terms of revenue generated. So the downturn of this sector is surely going to effect the IT industry. But it also provide a great oppurtunity for Indian IT companies, known for concentrating mainly in the US market. The fact that in recent times india has seen several big deals that might change the fortune of a few low key sectors also provide a sign of oppurtunity for the IT companies. We should also take a note of the thing that it not neccessary to have a client to start creating a great software package. Its better if we start looking this crisis as a oppurtunity to rectify a few mistakes that we did in the beginning.

http://www.hindu.com/thehindu/jobs/0808/2008080650110600.htm I think this would give some insight to handle crisis situations. I would say for now, we need to go in the direction of enhancing our product manufacturing than service based things. This is certainly a big opportunity for us to invest more on RnD on out product(s) and improve them. Yes, the US market has slowed down. But has it stopped people from buying laptops/cams/handycams/ all other electronic goods from the US? They are products. US Co.s are still able to sell them and provide service to those products. Its high time we invest more in our product(s). I hope we understand this.

I would end the post with the words from Architect from Matrix Reloaded.

"Hope, it is the quintessential human delusion, simultaneously the source of your greatest strength, and your greatest weakness"