Economy is like a pendulum.no matter whether its in the mean position or median.it needs to come back to rest position at some point of time.its just and matter of time and it requires a lot of patience.
To get an insight about whats recession and how does it matter to you…take a sneek peek at the following posts in my sister blog.
So how did these IT companies evolve…?
Until mid 80’s and the early 90’s most of the documentation and back end office work in most of the industries was manual.once the power of the silicon chips was unleashed these industries began to relish and rejoice the fruits of the computer revolution by leveraging the IT cost benefits.Those were the days when the IT bandwagon had just begun.while most of the smaller companies in the developed nations were able to shift their gears to the IT lane.(they were small and needed less manpower to help them in their transition.)most of the bigger names found it uneconomical as it would require to train huge manpower in relatively newer technologies and it would involve lot of cost.but they were determined to get into the IT boom as they felt that if they don’t catch up with it at the right time.pretty soon they are going to pack up or give up to their competitors.they were looking for alternative cheaper options.probably cheap labour I guess…!!!.In those days and even now cheap labour is synonymous to India and China.since china wasn’t much of English speaking nation it wasn’t able to leverage much of the IT outsourcing boom which people talk about these days.
So where there is demand the supply keeps building up as long as there is no dearth of resources.that is what made India the back office of the world and led to the evolution of many IT companies with global presence .