'SATYAM'Eva Jayade:

"Satyameva Jayade" (Truth Alone Triumphs) the popular sanskrit saying or called "Vaaymaiye Vellum" in tamil applies well to Satyam Computer Services. The proverb says that truth will be one day out of the box. Yes its the same here too. Its too out, but what is surprising is that the truth is direct from the mouth of the beguiler. The company had been in the alarm radar of investors and clients since it tried to acquire its own subsidiaries. Once the company withdrew the deal proposed to acquire them on the New year eve, the company lost its value in the stock market. The prices soared. The confession of the CEO, just dismayed and shocked everyone. Even I cant believe my ears. How can a top notch management person can hold this truth without the knowledge of his colleagues for years. Seven years of Fraudulent activities like forging of accounts that amount to 7000 crores, A huge account that made this crime to be dealt with the Serious Fraud Investigation department. The confession really made the stocks to lose more than 75% of its then current value. The promoters and stock holders sold the stocks even at that meager value. The liquified stocks, Forged accounts, Self motive all were not expected to be done by a person leading the 4th largest Software company of India, which has 182 of the Fortune500 companies as clients. This have indeed affected the already financial crisis struck Software industry, and have also reduced the HR minings and also laid a great question mark on the financial statements released by companies every quarter.

THE FUTURE OF IT SECTOR IN INDIA:

The most searched words in web search engines according to google and yahoo are about the "Global Slowdown". The Financial crisis made the U.S top Banks to tumble and made all the stock markets go awry. Bailouts and recession have topped the search keywords in 2008 rather than the "Katrina Kaif" and "Gazini". The Financial sector crisis have absolutely affected all the sectors in the country. But the most affected sector seems to be the IT sector. Even the ITES sector have survived this as it had nothing to do with recession. This made nearly 6Lakh Americans to lose their jobs and Many Indians getting pink slips or getting their joining dates delayed. Why such things are happening to the crowned IT Sector. The main reason is the Nature of their products. Mainly most of the IT companies are service oriented i.e they serve other clients. The economy of the clients mainly govern the future growth of the company. But a few are product based companies which produce of their own. These companies are the less hit compared to the other service/solutions based companies. For eg. the giant HP, Intel Fired more than the smaller ones like CSC, Honeywell. So where is the future of IT in India heading to. More and more product based companies are the need of the hour. Or the Service companies should start their own product units. Only that can save the current economic crisis scenario.