Tata Consultancy Services Ltd, India's biggest software exporter by sales, is seeing a halt in demand decline for outsourcing services, its Chief Financial Officer S Mahalingam said on Wednesday.
An army of low-cost English-speaking engineers had driven an outsourcing boom in India, but turmoil in global markets and a recession in the United States, which accounts for more than half the sector's revenue, have slowed the scorching pace of growth. Mahalingam said a lot of cost-control measures were needed in the company.
Thursday, June 18, 2009
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