Economic downturn hits Indian outsourcing market

Today I received updated information about the Indian outsourcing market from two different sources within one hour. Too much of a coincidence. Due to the economic downturn companies in the US and the UK recently cut their IT budgets by up to 45%. Many projects have ben put on hold. Since most of the outsourcing projects in India come from the US and UK a lot of good IT people are available on the labour market today. Rates have dropped

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