As most of the people fearing, the US recession has not really started. It is just showing the symptoms. Sofar no US company has seriously started the cutting down of their IT spending. As far as the indian IT cos are concerned, as of now the client base is intact and no need to be panic at this point. But the worry as of now is $ and growing competition. The weak dollar is killing most of their margins. these kind of cost cutting initiated by TCS would help them to maintain the margins atleast as temp measures. But biggest problem is still waiting for us, that is the US recession. But it may not be as bad as in the yr 2K1. Because the IT spending in the developing countries is also increasing and they will keep the IT market alive. But other problems are, techies cannot be costly anymore, and growing competition from the other countries like Philippines, China etc, and narrowing gap betwen Supply and demand forresources - they will hugely impact the future. Time for the techies to make sure that they are competent enough to handle the challenges. The slump is going to bring the high fliers on to the earth and they will come to know how a "problem" looks like. It is good in oneway. It is going to be an eye opener for many. As somebody said, to know the true value of "peace", you should have a war in between. It will make the people better. Infact we need this guys. Believe me.
