Signs Of U.S. Economic Recovery Buoy Indian Software Industry
India - The Indian software industry is smelling a turnaround in its main market, the United States. The long-anticipated rebound, coupled with a marked uptick in outsourcing, is sending stocks surging and sparking a hiring boom in the country.
When Infosys Technologies one of India's best-known software export firms, announced its quarterly results just over a week ago, the stock market bolted forward as it had not done in the last two years. Shares of Infosys and other tech firms rocketed, confirming the software industry's expectations that it has shrugged off a slow-growth period that began in 2001.
The mood is upbeat across the board, from large software exports firms like Infosys and Satyam to smaller companies such as Polaris and Mindtree.