Indian economy with Azim Premji’s Vision
Azim Premji, chairman of IT major Wipro, is optimistic about the revival of the Indian economy earlier than the world economy, saying the country remained largely insulated from the fallout of the financial meltdown and recession in developed countries.
In Premji's assessment, the US will recover faster than Europe, as it faced the crisis about six to nine months earlier."I am also optimistic about the new leadership (of Barack Obama) in America in terms of lifting the sentiment of the people. It is an important aspect vis-à-vis the revival of its economy," he said.
"We are extremely well-placed in the Indian IT services market given our reach, depth and brand. We had a very strong growth in India in the third quarter. Our Middle East market will continue to do well," Premji asserted.
"Consumer confidence is down significantly and leading indicators suggest that the bottom is not in sight. This will impact every economic activity leading to capital conservation and opex (operational expenditure) reduction," Premji noted.
He also projected lower dollar guidance ($1.05 billion) this quarter from the global IT services and products division than that achieved in third quarter ($1.13 billion).
"Our customers are not looking for vendors, but for business partners who know the priorities and collaborate with them. Challenging times differentiate great companies from good ones. This is an opportunity that we want to take with both hands," Premji said.
Just wondering what made Azim Premji to give a statement like this.Because Wipro being one companies which has been blacklist by worldbank, feel Premji should worry more about Wipro than Indian economy.
In Premji's assessment, the US will recover faster than Europe, as it faced the crisis about six to nine months earlier."I am also optimistic about the new leadership (of Barack Obama) in America in terms of lifting the sentiment of the people. It is an important aspect vis-à-vis the revival of its economy," he said.
"We are extremely well-placed in the Indian IT services market given our reach, depth and brand. We had a very strong growth in India in the third quarter. Our Middle East market will continue to do well," Premji asserted.
"Consumer confidence is down significantly and leading indicators suggest that the bottom is not in sight. This will impact every economic activity leading to capital conservation and opex (operational expenditure) reduction," Premji noted.
He also projected lower dollar guidance ($1.05 billion) this quarter from the global IT services and products division than that achieved in third quarter ($1.13 billion).
"Our customers are not looking for vendors, but for business partners who know the priorities and collaborate with them. Challenging times differentiate great companies from good ones. This is an opportunity that we want to take with both hands," Premji said.
Just wondering what made Azim Premji to give a statement like this.Because Wipro being one companies which has been blacklist by worldbank, feel Premji should worry more about Wipro than Indian economy.
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