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Audio – Bitter-sweet flavors
As the global economic turmoil rages on and shows no sign of abating, Genpact Chief Executive Pramod Bhasin believes “wait and watch” is the flavour of the season for business process outsourcing firms.
The flavour seems bitter for now.
Over the past few years, BPO services firms armed with competitive, English-speaking professionals working for relatively cheap wages have cashed in on an outsourcing boom. But they are now experiencing a lull in growth as the U.S. economy faces one of the worst crises in history.
Amid such grim conditions, CEO Bhasin doesn’t care to track his company’s stock price. “I don’t even know what my own share price was yesterday, for instance, and I don’t normally look,” he said. To hear the comment click here.
Genpact shares have lost almost half their value this year. Not a pretty sight.
But there’s still some hope for Bhasin on the flavour front. He hopes the company’s Moroccan venture is a success, because Morocco is a “great place to eat.” To hear the comment click here.
Bhasin was one of the featured guests during the summit, held in Delhi, Mumbai and Bangalore, India