| In a few brief decades of human history, information | | | | during the same time period. TCS plans to add 8000 |
| technology has permeated every corner of the world | | | | employees to its rolls to meet the anticipated |
| and every facet of the human experience. Nowhere | | | | increased demands in the coming year. In other |
| is this phenomenon more marked than in India. India's | | | | developments, India's Polaris Software Lab Ltd. has |
| high availability of technically trained workers, who are | | | | agreed to purchase Laser Soft Infosystems Ltd. |
| also multilingual, make it extremely competitive on the | | | | Laser Soft provides information technology services |
| world economic stage. Indian Institutes of | | | | in the banking industry. The purchase, for |
| Technology are recognized for their excellence on an | | | | approximately 520 million rupees will add 600 people |
| international scale. The Information Technology | | | | to Polaris' 9,000 and 40 financial institutions to Polaris' |
| sector in India is mostly taken up by software and | | | | holdings. The banking technology market is predicted |
| and services like, system integration, application | | | | to experience continued near-term growth. Payment |
| development and maintenance or CADM, consulting, | | | | processing and other banking infrastructure and |
| software testing, and internet services. Companies | | | | transaction systems are anticipated to lead the |
| like Wal-Mart, Intel, Cisco, Oracle and Dell are | | | | momentum as worldwide economic recovery |
| continuing to look to India's Information Technology | | | | continues to unfold. |
| organizations to provide technology services. | | | | Shifting technology support and consultancy services |
| Recent economic downturns have affected India, not | | | | to India has proven to be a significant source of cost |
| unlike other parts of the globe. However, recent | | | | control for many of the world's technology |
| events make an early recovery in India's information | | | | companies. Mergers and acquisitions by organizations |
| technology companies, promising. India's largest | | | | such as NASDAQ listed Cognizant with UBS India |
| exporter of computer software, Tata Consultancy | | | | Service Centre put the world on notice that |
| Services, Ltd. reports a 29% increase in second | | | | information technology resources in India are |
| quarter 2009 profits. While the profits are attributed | | | | desirable assets to acquire. One such jewel in India's |
| to both new orders and cost control decisions, it is | | | | crown, Proteans has recently been named to |
| not the only firm to report results that were better | | | | Software Magazine's Software 500 list. Inclusion on |
| than anticipated. Infosys, as well is reporting an | | | | this list puts Proteans on a preferred list of business |
| upswing. Overall, third quarter results are up around | | | | partners for the world's large corporations. |
| 16 billion rupees, as compared to last year's 13 billion | | | | |