Kamal Nath pointed out the IT industry has helped the country by moving 20 million people from having one meal in a day to two and went on to add: “This is the industry that we wear it with pride on our sleeves.”
The minister also urged the industry to adopt “next practices” instead of “best practices.” His statement was applauded at the Nasscom Leadership Forum and also led Pramod Bhasin of Genpact to acknowledge that the term “next practices” should be copyrighted by him.
IT firms should share risk?
Vineet Nayyar, of HCL Technologies declared that business models of Indian IT companies should turn to “risk sharing” with its clients who are fighting a global slowdown. S Ramadorai of TCS (in Picture) responded by saying: “The immediate task is how nimble are the Indian businesses and how they will allign themselves with the troubled times.”
Other govts lend; we borrow
Kamal Nath, Minister of Commerce and Industry, commenting on some actions that governments have taken to fight the slowdown, said: "In the US and UK, governments have been giving money to Banks but in India the government borrows money from Banks.”
Europe’s market will not be that warm
“The European market is certainly opening up but Indian vendors should not expect that this would be like another US,” Chris Gentle, Director, Europe Deloitte.
