IMF gushes over Indian reforms "India's economic growth is due to good policy of the government and Reserve Bank of India. Country is benefiting from sound macroeconomic policy and structural reforms of last 5-10 years,"IMF Managing Director Dominique Strauss-Kahn said.
Indian IT business seen crossing the $50-b mark Indian IT business is likely to cross $50 billion mark in 2008-09, out of which almost $40 billion will be earned from export market, says National Association for Software & Service Companies (Nasscom).
MOVE TO RESTORE PROFIT
Ford to eliminate 9,000 more jobs Ford Motor Co., world's third-largest automaker, may eliminate as many as 9,000 more US factory jobs through its latest buyout offers, a person with direct knowledge of the situation said.
Biocon to pick 70 pc stake in German firm Biocon, on Monday, announced it would acquire 70 per cent stake in German pharmaceutical company AxiCorp GmbH, a specialised marketing and distribution company, for 30 million euro (Rs 173 crore).
Biocon Ltd Chairman and Managing Director Kiran Mazumdar Shaw, right, and AxiCorp co-founder Holger Gehlhar, smile during a press conference to announce an acquisition in Bangalore. Biocon announced Monday that it has reached an agreement to acquire a 70 percent stake in German pharmaceutical company, AxiCorp for a consideration of euro 30 million (US$43,681,480). AP Photo
Is the slowdown of the US economy going to adversely impact the IT sector in India? Is there a way the industry can still sustain its growth? We asked our readers for their opinion and suggestions.
Most agreed that IT companies were certainly going to feel the pinch, and added that it was the hiring policies of these companies that were to be blamed.
There were others who were optimistic and said all was not lost as business could be diverted to new territories.
