Indian IT Industry - Changing Scenario....

A major share of revenue for Indian IT majors namely TCS, Infosys and Wipro come from banking and fianancial sector. Currently all major financial institutions are in a turmoil. Also, Economic slowdown in US has forced many companies to cut down on their IT spend. This is a big set back to all indian IT companies. 

China government's incentives to IT companies make it an alternate IT destination. We see companies are pressurising service providers to move the operations from India to China. 

This reduction in number of new projects and shifting of existing projects from India to China results in loss of oppertunities in India. Effects can be seen in the form IT companies giving pink slips to its employees, delaying offers made to freshers etc.