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Has Satyam affected the IT business in India?


Siddharth Sethi

February 22, 2009

Many people have asked me – has the Satyam episode affected the IT business in India? Has it affected InfoBeans?

The answer is an emphatic no.

The software services business is built on a high degree of trust. The trust that is built over a very long time period and through continuous personal interaction. We are proud to say that we have extremely good relations with our clients and they have time and again shown us that they trust us immensely. We have also returned the favor and have stood rock solid with our clients.

All the more, the Satyam saga is a very individualistic and isolated incident. It is not as if the entire Indian IT industry has been part of a huge scam. To the contrary, the Indian IT industry is one of the most ethical and open set of organizations in the world. The reputation built by our industry stalwarts is long lasting and deep rooted. One person cannot change the perception that an entire generation of new entrepreneurs have built.

InfoBeans is grateful to its clients for showing their faith in the organization. InfoBeans is also grateful to the entire Indian IT industry which has set such high standards of conduct that one Satyam cannot change the story overnight.

So the answer is an emphatic NO. I do not think the Indian IT industry has or will suffer, and definitely I know that InfoBeans has not seen any negative reaction.

One Bernie Madoff cannot really upset the entire American financial industry – can it?

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