Impact of Recession in It Sector

IMPACT OF RECESSION

ON

INFORMATION TECHNOLOGY SECTOR OF INDIA

Submitted to Lovely Professional University

In partial fulfillment of the requirements for the award of degree of

MASTER OF BUSINESS ADMINISTRATION

Submitted by:Group No:- RI32Makavana Jitendra Roll No. RR1906A21Bhanu Pratap Singh Roll No. RR1906A24Gaurav Arora Roll No. RR1906A22Vijay Rana Roll No. RR1906A26Amritanshu Tandon Roll No. RR1906A27 | Supervisor:Mr. Satinder KumarDesignation:Faculty Guide |

DEPARTMENT OF MANAGEMENT

LOVELY PROFESSIONAL UNIVERSITY

PHAGWARA

(2011)

INTRODUCTION

The current global economic slowdown has its epicenter in the United States (US) but the contagion is being witnessed in all major economies of the world. Several countries are experiencing rapid contraction in their Global Domestic Product, rising unemployment levels and an overall slowdown in the pace of investment activity. What started as a shock in the financial markets has spread to all sectors of the world economy and the exact depth and breadth of the impact is still unclear.

2008 was a transformational year for the Indian Information Technology Sector, as it began to re-engineer itself to face the challenges presented by a macro-economic environment which witnessed substantial volatility in commodity prices, inflation, and decline in GDP rates, cross-currency movement, finally culminating in the economic downturn.

This report on Impact of recession of 2008 on IT sector of India describes the phase that the sector had undergone during the economic crunch of 2008, casting an insight on the HR aspect of the sector during the same phase, and finally throwing some light on the reforms undertaken by the Government of India to curb recessionary pressure in the sector. The report also describes about the various strategies taken up by company to survive recession of 2008. Finally, with review of articles, collection of...