This will be an eye opening reading for many. That Indian IT story is big no doubt and we often get carried but this ET article carries the point home. The Indian IT story is still minisicule as compared to the old economy. For a starter, one old economy company and a PSU at that, has higher net profit than our top 5/6 IT companies combined. Today when new age IT companies celebrate their topline touching billion dollars , its bottom line is touching a billion.
This is not a stock recommendation for SAIL but the point is Indian old economy has carried this nation this far and is still going equally strong. Not to deny the Indian service sector its due, it is high time we realize the contribution of old economy sectors and the PSUs.The ET article by the way is here.
2 comments:
dont mean to be a party pooper sonia..you've posted after a really really long time...
doesnt the text need some spell check?
I agree with what you say..but if you look at the the turnover of these org. then you'l realise why they make such huge profts. Be it ONGC, NTPC,BHEL,SAIL most of them work in regulated markets or markets where an investment to tune of thousands of crore is required. S/w on the other hand is a different game..there are global markets and this what makes it special. The world salutes the indian s/w industry.
What do you say...
Amit Kumar Baisla
amitkb@iiml.ac.in
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