Talking to a fellow software CEO at the end of a tumultuous results quarter, I got an amusing new quotein these uncertain times, if the US economy does not get you the mark to market on your options surely will! A quarter which saw some wildly erratic results, ranging from Mastek and Zensars 70% plus y-o-y profit growth, all the way to deep losses by a few has raised more questions than answers!

Will the US economy that has been spluttering for some time, but still recording an expansion, eventually splutter to a halt or slide into recession by December? Will the tremors being felt in the UK result in a full blown explosion of the economy? Will the Indian economy, struggling with its twin demons of an oil price led inflation and a fractured polity regress into being an incidental rather than a key market for the Indian IT sector? And, finally, is there any crystal ball gazer who can say with surety what the economic outlook would be year from now?

There are no immediate answers to these questions. And these opportunities continue to abound for firms and leaders who have a point of view and the ability to deliver that viewpoint unambiguously to key customers and markets. As worries about their own markets bother our customers, the need to plug holes in their information architectures will eventually open up opportunities in key areas. The opportunity to demonstrate the industrys understanding of key business processes, and move up the value chain from traditional application development, and support true consulting led solutions will be available to those firms that have built skills in key vertical domains. And for smaller solution providers who have built a defensible niche for themselves, tactical but key project opportunities will emerge that may not garner enormous revenue in the short term but will position these firms for growth in their key customer accounts in the not so distant future.

Ganesh natarajan

The next few months of uncertainty may also be an opportunity for all firms to revisit their delivery strategies and look at a more optimal model for the future. The Nascom-AT Kearney study on new locations, or Indian IT and BPO, has provided significant pointers to the imperatives and the benefits of exploring new locations which can prove to be more sustainable from a cost point of view in the future. A truly integrated platform of delivery which exploits the benefits of near shore and offshore delivery, and bridges cultural differences across geographical boundaries will be the next step for the exports industry to demonstrate its inclusiveness.

For those who despair at their favourite markets, the US and the UK showing signs of frailty, a short flight to witness the economic boom that is visible in many parts of the Middle East, could restore the faith in ongoing economic prosperity and spending power. The technology intensity and the unparalleled vision that exists in these countries can open up opportunities for the Indian IT sector.

Perhaps the most appropriate way to summarise the opportunities that can be tapped even in these turbulent times came from the guru from Gujarat, Murari Bapu. Speaking to an audience of over a thousand followers who had flown to Dubai from all parts of the world to listen to his discourse, he said

Hawa abhi tez hai, sambhalna padega

Par chiragon se keh do, jalna padega

How truethe time is still ripe for all the lamps of the IT and BPO industry to shine brighter and light up the environment even as dark clouds loom on the horizon!

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