Infocom Kolkata 2011

The substantial volatility in commodity prices, inflation, decline in GDP rates, cross-currency movement finally culminated into the global economic downturn. While industries worldwide are in the process of re-engineering themselves to face the challenges presented by this macro-economic environment, significant complexity and uncertainty is increasingly getting attached to this unprecedented crisis.

The Indian economy has also been impacted by the recessionary trends, with a slowdown in GDP growth to seven per cent. The focus and exponential growth in the domestic market has partially offset this fall and insulated the country, resulting in net overall momentum. The ICT industry in India has today become a growth engine for the economy, contributing substantially to increases in the GDP, urban employment and exports, to achieve the vision of a “young and resilient” India. While the effects of the economic crisis are expected to linger in the near term future, the Indian ICT industry has displayed resilience and tenacity in countering the unpredictable conditions and reiterating the viability of India’s fundamental value proposition.

Overall, while organizations are focusing on cost reduction and near-term survival, there is an increasing cash crunch followed by a desperate need for growth through use of existing or minimised resources. In this situation how do global organizations look for long-term sustainability while dealing with the challenges of today and those of the new future? What steps should organizations take? How can the use of IT and innovative survival strategies turn the challenge of the downturn into an opportunity to implement transformational, sustainable changes?

Survival strategies for accelerating business and steering this downturn will and should be high on agenda for Indian C