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This crisis is a “little different animal”, and it is hurting Indian IT more than 2008

From guidance to margins to pricing to hiring, the pain is ubiquitous this time. And it’s barely a quarter into the pandemic. After the September 2008 meltdown, the recessionary impact on Indian IT persisted for about a year. But this time, just a year of intense disruption would be considered a stroke of luck.
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Jochelle Mendonca
20 May 2020 9 Mins Read 2 comments
Concept by Muhabit ul haq Getty Images
Concept by Muhabit ul haq
For Indian IT, the Great Financial Crisis (GFC) over a decade ago was the worst they’d seen – that’s what companies have believed for long. But as they try to steer through the current pandemic, the 2008-09 crisis is often reminiscent of good old days. As the sector went about reporting fourth-quarter results over the last month, CEOs
crisis also gave the company experience in managing its cash flows and balance the need to lower costs without sacrificing long-term growth. “It’s not as much the model as how you address the situation. This crisis is a little different animal,” he adds. ( Data support by Rochelle Britto) ( Graphics by Sadhana Saxena)
For Indian IT, the Great Financial Crisis (GFC) over a decade ago was the worst they’d seen – that’s what companies have believed for long. But as they try to steer through the current pandemic, the 2008-09 crisis is often reminiscent of good old days. As the sector went about reporting fourth-quarter results over the last month, CEOs crisis also gave the company experience in managing its cash flows and balance the need to lower costs without sacrificing long-term growth. “It’s not as much the model as how you address the situation. This crisis is a little different animal,” he adds. ( Data support by Rochelle Britto) ( Graphics by Sadhana Saxena)

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