It is how MphasiS Chief Executive Ganesh Ayyar refers to the Indian IT services provider’s strategy of going for small to mid-size acquisitions. The bigger ones can become a “noose around your neck”, Ayyar said.
If you know 5,500 software professionals in India looking for a job, just send them over to Stephen Watts, SAP’s chief operating officer for Asia Pacific and Japan. The Irish-born Watts, who is also temporarily heading the business software group’s India operations, denied any talk of doubling headcount in India by 2010.
India managed to escape the worst of the global downturn and is poised, along with China, to lead the global economy out of the worst downturn since the Great Depression. Confidence is returning, with the stock market up 70 percent this year. A rousing re-election win for the Congress party in May has spurred expectations that long-delayed financial sector reforms will be implemented and sorely needed infrastructure investment will accelerate.
Still, questions linger. Global demand that drives India’s once red-hot outsourcing sector is slow in returning. Companies that hoarded cash to tide themselves through the downturn are wary of adding capacity until there are clear signs of demand. Consumer spending is being driven by stimulus measures that are unsustainable. The government is hamstrung by a stubbornly high fiscal deficit.
Other challenges include India’s infamous red tape, the threat of inflation in a fast-growing economy prone to bottlenecks, widespread poverty, and infrastructure that is inadequate to support a rapidly urbanising population of more than one billion.
Top executives and bankers will discuss their own plans and the broader opportunities and challenges for Asia’s third-largest economy during the Reuters India Investment Summit in Mumbai and Bangalore, which will generate exclusive stories, video and analysis. These will be immediately available only to Thomson Reuters clients during each Summit.
At the Reuters India Investment Summit we asked Managing Partner of IBM Global Services Sandip Patel about the first thing he would like to outsource from his daily life. His response, perhaps instinctively, was automating the cleanup of thousands of his emails.