Andhra Pradesh - Visakhapatnam   

‘IT sector should make most of the meltdown’

VISAKHAPATNAM: “Out of every crisis good things are born. An example was the crisis in Indian economy in 1991. Present crisis is an opportunity to prove that India is a superpower in IT industry. The present mood of gloom and doom are exaggerated, the challenges thrown by the crisis should be converted into opportunities to tide over and to stem any possibility of a recession. Fundamentals of our economy are strong and would remain strong. We do have a bright future.”

This was the substance of what the speakers said at the seminar on ‘Current Challenges in IT Industry-the Way Forward’ organised by the Confederation Indian Industry’s (Southern Region) Visakhapatnam Zone, here on Friday. The seminar aims at addressing not only the present challenges in the IT industry, but also highlight the role of Tier II and Tier III cities in enhancing the competitiveness in the industry.

Chairman, CII Andhra Pradesh, Utpal Sen Gupta, in his special address, pointed out that unlike in the US where people spend more and save less and the economy was caught in sub-prime crisis, Indians spend less and save more.

In the background of the meltdown he advocated a re-look at the IT sector. According to him, people would move from big cities to Tier 11 and Tier 111 cities because it made good business sense. The State Government had also been offering incentives for setting up IT units in these towns. Cities like Visakhapatnam have great opportunities, Mr.Gupta said. He was sure that people would grab this opportunity with both hands.

Shakti Sagar, Convenor, CII, AP stressed the need to look at long term perspectives and approach the issues with a positive mindset. Business models would have to change and there should be greater efficiency. In his presentation, M.P. Dubey, Joint Director, Software Technology Parks of India, said that Indians could benefit the most from the economic meltdown in US because of the opportunities it presented.

In his presentation on new products development and long term benefits, D. Ramakrishna, Managing Director of Effronics, advocated exploring unknown markets with new technology.

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