Emerging Opportunities for Indian businesses in the current world economic situation
Pune, India – March 5, 2009 – Saama Technologies’ Founder & CEO, Suresh Katta was invited to speak to the members of the Mahratta Chamber of Commerce, Industries, and Agriculture (MCCIA) regarding “Emerging Trends and Opportunities for Indian IT Industry in light of current US legislation on no tax breaks on Outsourcing”
MCCIA is a premier industry association with over 2200 members from different sectors like Automotive and Auto Ancillaries, Electronics, Agribusiness, Information Technology, Bio-Technology, Environmental Technologies, Chemicals, etc. It is one of the most active Chambers of Commerce in India catering to Pune and its environs. It has been a catalyst for economic development of Pune and has continuously strived to make Pune a global business destination.
“We are delighted to have Suresh speaking to our members on the trends and opportunities facing the Indian IT industry in this market scenario” commented Deepak Shikarpur, Chairman, MCCIA. “Suresh is an entrepreneur who has successfully steered organizations through two downturns in the IT industry. This will help our member companies understand that downturns are a part of the business climate and should be looked at, not with fear and trepidation, but as opportunities in disguise.”
Suresh commented that “The entire software outsourcing industries contribute no more than 5% of the Indian GDP. Also the number of American industries benefiting out of financial aid package is comparatively less. So the current US legislation on outsourcing will not affect the Indian GDP much. Indian IT industry has capacity and a great opportunity in providing brands, products and ideas to the world.”
Suresh Katta said that there have been many discussions during last few days, ever since US legislation announced to safeguard jobs for US citizens and not to extend tax breaks for Outsourcing companies. At the Micro level, a small tax-sop being stopped or a change in terms of the number of people allowed to work in the US, will not kill the outsourcing industry. When the world economy finds its feet again, the skill sets and knowledge that is possessed by Indians, is not only going to be wanted again, but the demand for the same would be higher than before. India is not working only in the field of outsourcing but has tremendous capacity to work in various fields.
Innovation and R& D has helped a company like Apple Computer in building strong revenue & net profit, erase debt, and stockpile good cash reserves after facing financial crises in the past. Indian industries should learn lessons from them and companies like them. India has great capacity to make a global impact in the IT sector.
“Today the Indian GDP has crossed the $1tn mark. It is robust and while most of the world is in a downward spiral, we are managing to weather the storm. Our balance of trade is strong as are most of our industries. We should now think in terms of taking the lead in accepting a little risk and investing in innovation. We should focus on building our IP to a level where we do not have to worry about being driven and dependant on other economies which we do not control. We should focus on becoming the leaders in these grave times” were the ending comments of Suresh Katta, infusing a strong sense of hope and clarity to the gathering.
About Saama Technologies
Saama is one of the world’s largest Business Intelligence and Data Management Solutions companies founded in 1997. Its’ solutions span the entire spectrum of Business Intelligence needs, from strategy to architecture and delivery, including roadmap, data integration, analytics, dashboards, data mining and meta-data management. During the last 12 years, Saama has executed over 800 projects across multiple marquis clients, retaining 100% client reference-ability. Saama customers are knowledge workers, from operational managers to senior executives, in large and mid-size high tech, financial services, life sciences, manufacturing, and education enterprises throughout the world. To know more, visit http://www.saama.com
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