Monday, October 6, 2008

Indian Tech Companies and Recent Downturn in Markets

Tech companies from India lost more than double the amount the overall market lost in the last month. No surprise this happened, as Financial Services contributed ~19% of the technology spending in 2007. Surprisingly, these tech companies lost more than what the financial companies lost.

Of the 1.3 billion that companies spent on information technology in 2007, about $1 of every $5 came from the financial sector. The break-up goes like this:

- Government: 13%

- Financial Services: 19%

- Manufacturing: 12%

Source: Fortune Oct 13, 2008

No comments: