The ripples continue to spread.  It was German and Australian banks.  Now Indian outsourcing companies are seeing yet another side of getting large contracts with western financial firms.  Some major Indian outsourcers are already feeling the pinch as they lose major clients in the U.S. mortgage and lending crisis - Click here for the complete story.

This is hardly a small business - amounting to some $4 billion in  revenue to process U.S. loan applications in India. There is some speculation this may be the largest short term threat to the Indian economy.  The benefits of globalization are clearly vast, but the stone thrown in the water now send ripples a long way.  Maybe they’re not ripples anymore.  Another meeting on the diversification plans anyone? 

This entry was posted on Thursday, August 30th, 2007 at 2:37 pm and is filed under Technology. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.