On Tuesday, India’s Tata Consultancy Services Ltd. said that though economic uncertainties in Europe are still a concern for the technology firm, outsourcing demand of technology services remains solid. Moreover, S. Ramadorai, Tata Consultancy Vice Chairman, said that India’s largest software exporter by sales is ‘cautiously optimistic’ about the outlook for outsourcing demand, even though clients remain wary of spending in an uncertain economic environment.
However, India’s technology companies are facing slower growth, as the debt crisis in Europe and a slowdown in the US have led some companies to trim their spending on information technology. Furthermore, the situation in the US and Europe had prompted some clients to delay decisions on IT spending, and some even said that they may not spend all of their IT budgets for this year.
Source: http://online.wsj.com/article/SB10001424053111904353504576568191704186586.html
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