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Demand fall appears to have halted: TCS

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Reuters

Posted: Jun 17, 2009 at 1530 hrs IST

Bangalore Tata Consultancy Services Ltd, India's biggest software exporter by sales, is seeing a halt in demand decline for outsourcing services, its Chief Financial Officer S. Mahalingam said on Wednesday.

An army of low-cost English-speaking engineers had driven an outsourcing boom in India, but turmoil in global markets and a recession in the United States, which accounts for more than half the sector's revenue, have slowed the scorching pace of growth.

Mahalingam said a lot of cost-control measures were needed in the company.

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