WELCOME TO THE THIRD EDITION OF THE MONTHLY OFFSHORING and OUTSOURCING TO INDIA NEWSLETTER. This is brief of all the major news and headlines from November, you may have been viewing on the blog The sections also presents a fact based analysis based on what is being reported in the news ( If what is reported in the news is a fact!!). I am looking for feedback on the newsletter to make it more informative and useful and please pass this on! I do want to give credit to the original news sources who have been reporting on the wonderful world of outsourcing and offshoring. Email me at offshoreindianews@gmail.com if you need any more info.

PUBLISH DATE:February, 2007BLOG: http://www.corrystone.com

TABLE OF CONTENT

OFFSHORING AND OUTSOURCING TO INDIA TRENDS (January) MARKET TRIVIA DEALS – BIG and SMALL M & A / Deal Talk

COFFEE TALKEARNINGS RELEASE/ MARKET BUZZ

GLOBAL/LOCAL LOCATION EXPANSION PEOPLE MOVEMENT VIEWS NEWS

MARKET RESEARCH REPORTS The Lighter Side People in the News

1. OFFSHORING AND OUTSOURCING TO INDIA TRENDS (OCTOBER)

1. Indian vendors signing larger deals. TCS signed a $1.2 billion dollar infrastructure management deal with AC Nielsen. This is one of the largest infrastructure deal an Indian firm has been awarded standalone. Patni signed a $ 200 million dollar deal with Carphone warehouse UK. The larger vendors in India continue to sign up big deals although the mid size players struggle to grow. Larger players are also looking to boost up their consulting and onsite skills to get a larger wallet share of the customers.

2. Larger outsourcing firms report good quarterly earnings despite rise of rupee. Mid size firms continue to struggle with growth. Stock markets still punishing outsourcing firms with weakness in their prices. Short term, the

larger players seem to be have weathered the storm. Longer term, the risk of non-stellar growth, compressed margins and challenge to hire and retain people are significant. Indian offshoring players still sound cautiously optimistic of the growth expectation for 2008. Clients on the other hand are not as optimistic and foresee a potential decline in IT/ITES spending for 2008. A number of buyers are also not willing to renegotiate prices to offset the rupee-dollar change which vendors are pushing for. Buyers of offshoring services who are past their investment phase , have a higher probability of increasing their offshoring activities.

3. Limited M&A activity this period. Small deal activity in October. There is a

lot of buzz and press about companies talking about dollars they have available for M&A’s. The deal sizes still seem small and Indian firms are going to potentially take a cautious approach in acquiring and integrating large companies.

4. Attrition and unemployability continues to be a significant challenge. Outsourcing firms have started exploring innovative techniques to address the issue of talent crunch in India. The talent crunch is evident across all sectors including pharma, IT, BPO, retail, construction and the rest of the growth industry in India. Unemployability, because of - a strong but archaic education system, lack of global exposure in education and lack of focus on soft skills and communication in education continues to be a challenge. Despite the number of graduates being churned out by Indian schools – only a minority of these are directly employable. Firms will continue to partner with education institutions and spend increasing training dollars to grow this talent pipeline. Firms are looking to expand into Tier II and Tier III cities in India to tap talent but that strategy has similar similar challenges and then some more!

5. Dollar – Rupee differential leading firms to reduce bench strength and look

at ways to improve utilization. A number of smaller firms have had issues with margin compressions because of the rise of rupee, specially the ones with major anchored clients in the US. The financial turmoil in the US is going to continue to pose a challenge to Indian vendors, specially given that a major chunk of revenues for Indian vendors is from BFSI (Banking , Financial Services and Insurance firms). There is a lot of market talk about finding ways to manage the risk of dollar-rupee including penetrating the domestic markets, European markets, lower raises, reduced bench strength etc.. The firms – small and large will have to work hard to make it work for them going forward.

6. Cost of doing business in India continues to rise. Locations outside of India continue to be explored as extensions, alternatives to India. Increasing real estate prices in India driven by growth sectors including IT/ITES and retail, escalating salaries, escalating cost of training and hiring will continue to increase the cost of operating in India. A number of firms are looking at

alternative locations to manage this risk of operating and growth within India . Example - JP Morgan is looking at Philippines to extend and grow their organization. Firms are looking at US locations also to be closer to the clients and to manage attrition. (TCS, Wipro). A couple of firms have moved back closer to home ( Situs, Northrop –Grumann have bought work closer to home to smaller towns in the US).

7. What to expect rest of 2007

With companies grappling with market turmoil, budget planning for 2008 and the all the end of year fun stuff including holidays – don’t expect to see any major deals in the market. This will also potentially limit the M&A activity for the rest of the year.

The global stock markets will continue to be cautious about Indian IT/ITES firms and stock prices are going to be possibly lagging rest of the year.

Attrition problems in India are not going to go away and firms will have to find innovative ways to deal with people issue next year. With the continuous growth of sectors outside of services in India – the crunch for talent is going to worsen forcing services companies to look at a true global delivery model.

If the Rupee rise continues, and clients show reluctance in increasing rates - majority of the firms could have a serious profitability issue on their hand.

Domestic markets are going to continue to open up but will not offer lower range of profitability relative to global businesses.

If productivity besides labor arbitrage is going to be a key driver for businesses going to India next year, the vendors need to be prepared to prove that they can add value beyond labor arbitrage.

2008 has the potential to be the first year where the growth of Indian IT/ITES markets reflects the maturity in the sector and is no longer a growth play (2007 stock prices already reflect that trend).

2. MARKET TRIVIA

Q: Where will your $1000 or $ 1million be November 16th, 2007 if you have decided to invest that money Jan 2nd, 2007 in the who’s who of IT/ITES sector in US and India ? The short answer is - Not close to your original investment and in most of the cases below your original investment. This graph shows you some more details and includes the dollar-rupee-euro exchange rate change.

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Initial InvestmentJan 2nd, 2007

A US investor invests 1000 dollar, and Indian Investor invests Rs 1000 and a Euro investor invested 1000 Euro in each of these stocks on Jan 2nd, 2007 (US and India Stock Exchange assuming exchange rate a/ Jan 2nd, 2007). This graph shows the value of that investment on November 16th, 2007 if they take the money out in the local currency (assuming exchange rate a/o November 16th, 2007).Overall the IT/ITES stocks have underperformed the markets. Interesting EXL, Accenture,IBM are the only one with positive returns)

If the dollar had notfallen so much theinvestors in India &Europe would have mademoney on Dow,Nasdaq,Accenture,IBM

A US investor wouldhave lost money onHCL,Satyam

3 . DEALS – BIG AND SMALL Misys says signs partnership with HCL TechnologiesWipro Tech looks beyond telecom to spread out riskInfosys launched universal banking solutionsWipro Infotech bags contract from FamilyCreditInfosys pursuing $1,500 mm plus bills overseasHCL to help Quest boost operationsNovartis in $500 mln infrastructure deal with BTSiemens IT Solutions and Services Operates IT for Evonik Industries in the USGSK to strip down through outsourcing and offshoring UST Global announces Rs 500 cr ($130 million) expansion planSatyam’s Growth Prospects Look SolidNew job gloom at Norwich UnionTCS Signs a $1.2 billion dollar with NielsenUST Global Signs Contract with a Leading Media and Entertainment CompanyPatni Computer signs $200 million multi year deal with Carphone Warehouse, UKNovell's Provo,Utah operations to shed 200 jobs, offshoring positions to IndiaPlayspan, a Silicon Valley in-game commerce company plans a 100% subsidiary in Mumbai

AREVA - Global electrical giant exploring India as its outsourcing destinationCapita Group has captured a $540 m deal with Cooperative Financial ServicesIBM wins Hess contractDeutsche Bank selects Sutherland to provide data management services for North AmericaSaudia Airlines awards infrastructure deal to WiproSt George draggin' jobs offshoreIndia's Wipro buys radio access R & D unit from Nokia SiemensAccenture Signs Outsourcing Agreement with WorldSpace Satellite RadioThe First American Corporation Expands Business Process Outsourcing Solutions for Mortgage Industry Through MortgageBPO(SM)Zensar bag $11 mn orders to implement of Oracle applicationsRSM plans to enter US corporate taxation spaceCommerzbank Outsourcing Deal With HP Worth EUR150 Million -SourceCapGemini and Samsung IT services sign up strategic allianceSuncorp signs Satyam for analyticsCredit Suisse to expand India operations with WiproCapGemini secures £250m contractHexaware wins Euro 5-mn contractHCL has entered into a multi-year infrastructure management contract with Hercules IncorporatedTCS and SmartStream launch reconciliation service 

4. M & A / Deal TalkCambridge Solutions to raise $35 millionOmega Healthcare to invest $14 million in IndiaSymphony Services Acquires Optimal Engineering PartnersMumbai based BPO Accentia acquires three healthcare BPO companies in the US3i Infotech acquiring J&B Software inc in the US for $25.25 millionIndia Based Azure acquiring 49% stake in Philadelphia Citizan MortgageDRL on prowl overseas to scale up R&D options Comat Technologies to raise $15 millionIPVG starts new outsourcing venturePrivate equity investments to touch $13.5 b in 2007iFlex buys out Castek SoftwareNetXcell raises $1mn for US expansionPatnis break deadlock over stake saleNess Technologies acquires MS9 Consulting LLCQuatrro eyes US gaming companyGenpact Buys Citi BPO arm for $700 million Vertex looking for acquisitions in India

5. COFFEE TALKWooing Customers With Call CentersInterview with Ramesh VP operations 24/7 

Businesses Beware: The World Is Not Flat - Q&A with Pankaj Ghemawat , Professor of Business Admin - Harvard Business SchoolSyntel CEO targets $3bn in revenueTCS's growth strategy for Continental EuropeYouTube interview with Phaneesh Murthy - CEO iGate In India I am only interesting in tie-ups, no BuysSafir Adeni: Transformed Sitel from a BPO to KPO

6. EARNINGS RELEASE/ MARKET BUZZCredit Suisse Ratings - ExlService downgraded to 'neutral, WNS upgraded to 'outperform' , Syntel downgraded to 'neutral'Credit-Suisse Smiles on Data Processors Accenture, Cognizant; Frowns on EDS, AffiliatedPolaris Q2 consolidated net climbs 26.35% Q-o-Q (Update)HCL Tech Q1 net hit by lower forex gainsAnimation outsourcing firm CDI posts two-fold jump in Q2 netTCS impresses again with second quarter resultsTCS H1 revenues at Rs 10843cr ($2.7b) up 25.3% YoYJP Morgan sees slowdown in Infosys growth - downgrades stockMastek Q1 net up 22%; plans Rs 65cr buybackInfosys reports second-quarter profit rise of 18.4 pctInfosys BPO net rises 43%iGate Global Q2 net doubles, to delist by DecUBS initiates coverage of Genpact with a neutral ratingSoaring markets send P/E ratios to dizzy heightsPiper Jaffray initiates coverage on WNS with outperformConvergys Presentation at Citigroup Techology Conference - TranscriptInfosys recasts into 11 business units

7. GLOBAL/LOCAL LOCATION EXPANSION

Polaris launches software testing lab in SydneyUrban angst: Mumbai, Delhi to touch 24 million by 2020 - Will be most populous cities in the worldBeyond China and India: Future Development Hubs Identified by Top Corporate Real Estate and Site Selection ExpertsTCS - Coming to America!Philippines appoints new Information and Communication Technology chief - BPO one of the prioritiesCentral and Eastern European IT outsourcing view: Notes from Ukrainian Outsourcing Forum 2007Fujitsu Consulting India opens new offshore development center in NOIDAIBM goes to BulgariaFujitsu opens center in IndiaGenpact plans to invest Rs 150 crore in upcoming IT SEZ in JaipurJP Morgan finding Mumbai too crowded moving to Philippines

Perot Systems is gung-ho on its expansion plans in tier-II citiesSix Indian cities among emerging outsourcing hubsTCS to expand in Uruguay and ArgentinaSome firms replace offshoring with onshoringTo India and back: CRE BPO learns valuable Lessons

8. PEOPLE MOVEMENTCapgemini Names Vincent Shepherd as Chief People Officer for North AmericaU.S. Market Development Group Hires Ms. Sonali Dave As Business Development AssociateInfosys readies for management rejigDev Ganesan Joins the Executive Management Team of AptaraThe Outsourcing Institute announces Garry Almond as Chief Technology OfficerCEO of Aviva's Pune's offshoring unit quits

9. VIEWS

The Google BrainThe real issue with offshoring is are we cutting off our feeder stock for IT management ?IT Opportunities leads to lesser number of Indian Civil Services aspirant'India reshaping global IT, but remains small player'Make global M&A successful the Daksh way!BPO vs MBA: The tussle between fast bucks and a secure futureIndia: Huge opportunity amid the squalorChidambaram asks Norwegian IT cos to outsource work to IndiaOutraged over outsourcing - Article by A J NarashimanNew Industry May Threaten Philippine Call CentersMy Indian visa outsourcing nightmareMarkets likely to continue wobbleChanging trends and landscape in BPOsBlind Men & The Elephant - Book on Demystifying the Global IT IndustrySending work to India -- the pros and consWill Jobs Move Back to Silicon Valley from India? Don't Hold Your Breath...Third wave of outsourcing comingBPO; Market Flexibility and Information Management Systems deciding criteriaBook-keeping contracts to remain strong for BPOs: StudyWith Outsourcing, Squeaky Wheels Get No GreaseTPI Index Reveals Fewer Outsourcing Contracts Awarded in Third QuarterOFFSHORE OUTSOURCING: A LOOK AT THE SECURITY RISKSThe Price of success in ITO/BPO industry growth in IndiaOffshoring - culture lessons are crucialContinue reforms to touch 10% GDP growth: Lehman tells IndiaBPOs to Require 200 million sq. ft. Office Space by 2008: Rocsearch ReportIT results - can the growth be sustained ?

Procurement Outsourcing next big waveIndian pharma companies going up the value chainWent for Cost, Stayed for Quality?: Moving the Back Office to India - Blast from the PastE-learning has come of ageInside out: Indian BPOs ring in strategy to counter rupee riseThe New ExpatriateTriple threat for Indian Tech firmsEight signs you are not ready for outsourcingDropping dollar could mean shoddier offshore servicesIndian Govt ready with IT investment regions policyThreat to offshore IT services TCOManhattan working at Mumbai PriceGlobal IT spend to top $3tn in 2007CEO speak: Globalisation is glamorous but riskyBPO no longer career of choice for Indian youthDealing with Hypergrowth - Wharton ArticleIndian vendors looking to ramp up their consulting businessThe Rupee's Rise, the Dollar's Demise and You: Managing Currency Risk in Offshore OutsourcingBigger is not always better: Banks overlook small nimble suppliersAttrition may spoil KPO sector; over $2 bn revenue at stakeHow to negotiate Global Services Agreement - new whitepaper by NeoIT

10. NEWS

Fortune Magazine's annual conclave starts for first time in IndiaStaffing firms face IT's attrition heatBPOs lose sleep over Re appreciationRising Rupee claims first BPO victimIT training majors eye new sectorsTeleperformance leading global center planning expansion in IndiaMidsize-Business Outsourcing Growth StallsCan Indian offshoring companies help unveil where GOOGLE is headingTaking IT to non-English speaking population in IndiaMid-sized Indian Outsourcing Firms Stick To The MiddleIndia Call Center jobs go beggingUK CIO's have a mature attitude to outsourcingDomestic Healthcare outsourcing is 'in' in IndiaPanel formed to look into data security standardsBank regulations boost outsourcingLawyers look to India for answers Capgemini offers new service offering to their BPO portfolioCiti asks Genpact to match Firstsource bid

Wipro, Infy, TCS come together to boost educationAptech ties up with US developer of IT certification examsCalls to Brit cops could soon be answered by Indian call centres Clinical staffing a 'tremendous problem'Tempus: LogicaCMG's new broom will be watched closely from IndiaAccenture, Wipro eye Dell’s non-US BPO businessPREVIEW-India IT firms Q2 net seen higher, but rupee a worryMeritTrac Services announces launch of national employability testIndian IT companies running to increase presence in EuropeMid-tier IT cos feeling the heat of rising Re Tech Mahindra to focus on R&D, create new solutionsIndian Government to issues health guidelines for BPO workersFalling dollar pushing up costs of outsourcing to India

11. MARKET RESEARCH REPORTS

Global market office property report - Delhi, Mumbai rental rates higher than NY mid townIndian IT professionals among worst paid globally: SurveyIndian Pharma industry - report by BostonAnalytics38% global companies asked to pay bribe in India: PwC

12. The Lighter Side

The Lighter Side - Do's and Don't in India 30 days outsourcing in India movieComedy feature 'Outsourced' to NBCOn the lighter side - performance appraisal terms globallyCall Center the Movie - A one man call center

13. PEOPLE IN THE NEWS

A L Rao, Wipro COOAditya Nath Jha, Infosys head of global brandingAjit Prabhu – CEO QuestAmeera Shah, Executive Director, Metropolis Clinical Laboratories, Mumbai.Amit Singh, Manager, General Administration, Wockhardt Hospital, MumbaiAnant Gupta, COO, HCL Technologies (Infrastructure Service Division)Anbumani Ramadoss ,Union Health MinisterAndy Efstathiou, Director, NelsonHall’s Banking ProgramAndy Green, CEO LogicaCMGAnil Kakodkar, Chairman, Atomic Energy commissionAnil Verma, Director and head of Polaris Australia

Anne Schumann, VP, Information Technology, HerculesAnshul Joshi, HR, e-Serve International LimitedAnurag Mehta, Company Executive Vice PresidentAravind Melligeri – President QuestAri Lehtoranta, head of the radio access business unit at Nokia Siemens Networks (Espoo, Finland).Arun Jain, Chief executive officer and chairman of Polaris Software LabAshank Desai, chairman and co-founder of MastekAshwani Puri, PWC Advisory Lead IndiaAsim Handa, the New Delhi-based country director in India of FutureStep, a division of executive search firm Korn/FerryAtul Jalan, CEO, Manthan SoftwareAtul Nishar, chairman of HexawareAtul Vashistha, chairman of neoIT,Avinash Vashistha, Tholons, CEOBala Balasubramanian, J&B Software Chairman and CEOBarry Sando, president of First American's Mortgage Information Services GroupBharat Desai, chairman, co-founder and CEO, SyntelBhavin Shah, JP MorganBryan Keane, Credit Suisse AnalystCesar Sorian , President, RSM McGladreyChandra Sekaran, managing director and executive vice president of CognizantChristopher Gray, Ernst & Young Llc.’s global pharmaceuticals markets leaderCol M Masand, Chief Executive Officer, Jaslok HospitalD P Singh, , VP Strategic HR, IBM DakshDan Lauderback, managing director of Accenture’s North America Communications industry practiceDan Sernett, a partner in Los Angeles with Ernst & YoungDaniel Sierra, CEO and co-founder of Optimal Engineering PartnersDarlene Miller, CEO of Permac IndustriesDeepak Mendiratta, MD, Health and Insurance Integrated, New DelhiDeepak Parekh, chairman, HDFCDennis Donovan, Principal of Wadley-Donovan-Gutshaw ConsultingDennis Gilmore, chief operating officer of The First American CorporationDerek Goh, Executive general manager of IT and management services at ChallengerDevinjit Singh, Head, Mergers & Acquisitions India, General Atlantic PartnersDilip Vellodi, CEO Sutherland Global ServicesDiwakar Singhal, Genpact Jaipur LeaderDr Akash Rajpal, Senior Manager, Medical Services, Dr LH Hiranandani HospitalDr BK Rao, Chairman, Sir Ganga Ram Hospital, New DelhiDr Chinnappa Metgud, Chief Administrative Medical Officer, MGHDr J.P. Garnier, GSK CEODr Krishna Reddy, CEO, Care Hospital, HyderabadDr Lloyd Nazareth, Associate Vice President, Wockhardt Hospitals, Bangalore.Dr Manika Ghosh of the Department of Psychology at the Maharani Science College in Bangalore

Dr. A. Sankara Reddy, head of Sri Venkateswara College in New DelhiDushyant Joshi, Azure directorDyakar Puskoor, executive chairman, NetXcellE Balagurusamy, member, UPSCGail Kelly,CEO St. GeorgeGail Kniveton ,Fforde ManagementGangapriya Chakraverti, Mercer India Business Leader (Information Product Solutions)Garry Almond, CTO, Outsourcing InstituteGirish Karnad, VP- Recruitment, Patni Computer SystemsGK Murthy, senior vice president with Sierra AtlanticGopi Natarajan, Omega Healthcare Co-Founder and Chief Executive OfficerGordon Brooks, president and CEO of Symphony ServicesGov. Tim Pawley, MinnesotaHaragopal M, Infosys Technologies Vice-President and Head , Finnacle BusinessHarel Cohen, CEO of FTK TechnologiesIain Blacklaw, Bank of Queensland chief information officerIan Macdonald, New South Wales(NSW) Minister of State for developmentJeff Smith, chief information officer, SuncorpJeff Smith, Suncorp CIOJerry Rao, Chairman , mPhasisJohan Gott, an offshoring consultant with the firm A.T. KearneyJohn T Rose, president & CEO, Fujitsu Consulting,Karl Mehta, co-founder and CEO, PlaySpan,Kevan Barney, Novell's senior manager of public relationsKris Canekeratne, Virtusa’s Chairman and CEOKrish Gopalakrishna Managing Director and CEO InfosysLanny Cohen, Chief Executive Officer for Capgemini's North America Project & Consulting BusinessMadan Padaki, CEO- MeritTrac ServicesMark Gorman, Global Real Estate Leader for NortelMark Hodges, executive director of corporate development at offshoring and outsourcing consultancy EquaterraMichael Neary, Telstra's enterprise and government industry directorMike Berkley, WorldSpace CIOMike Zerkel, general manager, North America, UST GlobalMitchell Habib, executive vice-president of Neilsen Global Business Services,Mr Michel Janssen, Chief Research Officer of The Hackett GroupMr Wayne M. Mincey, President of The Hackett GroupN Ranjit, HCL BPO CEON.R.K. Raman, iflex managing director and CEO,Natarajan Chandrasekaran, VP, TCSNitin Padmanabhan, IT analyst, ICICI DirectP. K. Sridharan, executive director at HexawarePankaj Ghemawat, HBS ProfessorParth Rawal, General Manager (Administration & HR), ALL Services (India)Pawan Vaish, CEO, IBM Daksh

Peter Harrison, CEO of GlobalLogicPeter Sondergaard, senior vice president and global head of research at GartnerPhaneesh Murthy - CEO iGatePhilip Alexander ,Information Officer at a major financial institution and author of the book Data Breach Disclosure Laws: A State-by-State Perspective.Phiroz Vandrevala, Executive Director, Corporate Affairs, TCSPraba Manivasager of Analysts InternationalPradeep Viswambharan, Accentia directorPramod Khera, CEO and MD of AptechPriya Kurien, co-authored "Blind Men and The Elephant: Demystifying the Global IT Services Industry”R. Ravishankar, the New York City-based vice chairman of i-flex SolutionsRajnish Virman, ex-CEO, Aviva Global Services IndiaRakesh Mittal, COO and president of CorbusRalph Imholte, the president and CEO of Bepex InternationalRamalinga Raju, Chairman and founder of SatyamRaman Roy, founder, Quatrro BPO SolutionsRamesh Emani, president of Wipro's telecom and product engineering solutions operationsRandy Willis, a senior Accenture executiveRanjit Singh, CEO of AptaraRashid Bilimoria, Boston AnalyticsRavi Aron, senior fellow at Wharton's Mack Center for Technological InnovationRay Anthony Roxas-Chua, Philippines ICT Commission ChairmanRichard Graham, CEO, VertexRichard Herbert, CIO of global markets and European IT at ABN AmroRicky Burdett, LSE's Urban Age directorRob Fraser, ex-CIO of BootsRobert R Ruffolo, president, Wyeth Research & DevelopmentRon Leonhardt, 41, Target's director of human resources, ChinaRoss Tisnovsky, VP of information technology outsourcing research at Everest Research InstituteS K Jain, NPCIL Chairman and Managing DirectorS. Ramadorai, TCS chief executiveSabyasachi Satyaprasad, head of advisory services at outsourcing advisory firm neoITSafir Adeni, CEO, of Sitel IndiaSajan Pillai, president and chief operating officer, UST GlobalSanjay Kamlani, a co-founder and co-CEO, Pangea3Sanjay Mehta, managing director, TeleperformanceSanjeev Aggarwal, Former CEO, IBMSashi Bhushan, head of equities at IL&FS InvestsmartSaurabh Gupta, research director, Everest Research InstituteSergio Retamal, Founder, RFQConnectShailesh Shah, Satyam’s head of corporate strategyShiv Nadar, Chairman and Chief Strategy Officer, HCL TechnologiesShiva Ramani, co-founder and CEO of CSS,

Shivangi Mishra, Business Development Manager, MaxonicIndiaSoumen Basu, Manpower India executive chairmanSrikant Sastri, managing director of Solutions, a marketing services firmSrinath Batni, Board Member Infosys,Sriram Raghavan, president, Comat TechnologiesSteven Bean, Situs TechnologyStuart Miles, Situs TechnologySubroto Bagchi, COO, MindTree ConsultingSudhakar Ram, chairman & MD, MastekSudin Apte, senior analyst and country head (India), Forrester ResearchSumir Chadha, managing director of the Indian operations of venture capital firm Sequoia CapitalSuresh Surana, RSM McGladrey FPO India vice-chairmanSurya N. Mohapatra, Chairman and CEO of Quest DiagnosticsTom Holler, Chief Financial Officer, CFO, VirtusaTom Schabel, CEO of aluminum-extruding firm Alexandria ExtrusionUmesh Ramakrishnan, vice chairman of global executive-placement firm CTPartnersV Srinivasan, CEO 3i InfotechVamsee Tirukkala, a manager with ZinnovVardhaman Jain, Managing Director, Perot SystemsVenkatesh Kumar VN, CEO, MNE Technologies & MSFM, Bangalore.Venugopal N. Dhoot, president, ASSOCHAMVic Berger, manager of business development at CDWVincent Roland, AREVA Director (Business Development)Vincent Shepherd, Chief People Officer, CapGeminiWas Rahman, co-authored "Blind Men and The Elephant: Demystifying the Global IT Services Industry”, CEO Dolphin AdvisoryWolfgang Nowak, Alfred Herrhausen Society managing director