National Association of Software and Service Companies (Nasscom) said that global slowdown would affect Indian IT world in indirect manner. Indian information technology and business process outsourcing (BPO) companies are vulnerable to a short term impact of world financial crisis. The IT companies have started to slowdown their decision making activities. They are investing and spending very carefully. But Indian companies are still hiring the employees and confident to restore the normalcy very soon.

Nasscom President, Som Mittal said that Japan can be a best alternative for Indian companies. They can reduce their dependence on US and European markets. Japan has $108-billion IT market and it can prove very useful for Indian IT-BPO companies. The country has shortage of technical skills and it can utilize Indian work force to satisfy its technical needs. Japan is the second largest economy in the world. India needs to collaborates with Japan and increase IT export from the existing

Leading professional services firm and Nasscom today released a report on Japan titled ‘Opportunities for Indian IT Industry: Japan’. It has touched various aspects for trade prospectus for different locations of the world.