It is the time for announcement of quarterly results and as far as the Indian scenario goes, the superb results announced by Infosys has raised the mood of optimism. Globally, Intel and IBM Global Services have surpassed expectations, while Accenture has delivered reasonable results. 

"Companies have to first figure out how to sell the product. They will have to go through several gestations in sales cycles in India as the cost of selling is not too high here..." says Mr. Raghunandan, CEO of Servion^t Global Solutions.

TCS has achieved the distinction of being the first Indian company to cross the US$ 1 billion mark.

Indian Rayon, an Aditya Birla Group company, has forayed into the BPO space with the acquisition of TransWorks. The value of the deal is estimated at about US$13 million.