Indian IT companies confident of withstanding US-led downturn

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http://economictimes.indiatimes.com/tech/ites/indian-it-companies-confident-of-withstanding-us-led-downturn/articleshow/9515824.cms

NEW DELHI: Even though industries across the country have expressed concerns over the debt crisis in the US , aggravated after the downgrading of its sovereign rating by S&P, Indian IT industry remains confident of withstanding another downturn.

While most agree that there are fears of another recession in the US and a debt crisis in Europe, they also feel it is still early days to know what is coming.

Country's second largest software exporter Infosys CEO and MD Kris Gopalakrishnan says, "It is too early to say. There are fears of another recession in the US and a debt crisis in Europe.

"We were able to react very quickly in the past (2008) when the recession happened. These responses are still fresh in our memory and I believe that the industry will be able to withstand another downturn."