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War reports do not affect Overseas IT clients
By siliconindia
New Delhi: The recent reports of a military build-up across the India-Pakistan border does not seem to have registered in the attention spans of overseas clients of Indian IT companies. According to sources, most of the clients who are out holidaying remain unfazed and such issues crop up only in certain informal conversations.
"Clients are not worried at this point. It is difficult to speculate what happens tomorrow, we will have to wait and watch on how the situation unfolds," says an executive of a leading Indian IT company, whose company isn't revealing much about its third quarter results.
"I do not think they are worried. Also, over the last two days, we have seen some de-escalation. They are also aware of U.S.'s intermediation effort," says Som Mittal, President, Nasscom.
"Besides that, the global spotlight is more on the financial crisis and slowdown. Only one or two customers have made casual enquiries and that too during an informal conversation," says a CEO of a Gurgaon based telecom software company.
Another senior industry representative, who did not wish to be named, agreed that the holiday season had diverted some attention. "Hence we are yet to see queries from our clients," the official concurred.
At present, the U.S. and UK are the key markets for the Indian IT and BPO industry, accounting nearly 80 percent of the overall export basket.
The breakup in Nasscom's strategic review 2008 is as follows. With the U.S. and UK accounting for nearly 61.4 percent and 17.8 percent respectively, Continental Europe chips in with 12.3 percent and the remainder filled in by the rest of the world.