Whenever such a big event hits the world, predictions pour in from every corner and I have no qualms in admitting that most of them prove to be false.

If you ask me, I do feel going will be tough for the Indian IT industry for the next one year, especially with respect to exports.

However, there is a sliver lining amid this talk of impending gloom: the impact of global financial crisis will peter out within the next two fiscal years.

Let's put it this way, Indian IT industry is facing a short-term crisis but the problem won't last for long.

Image: An attendant waits for delegates at a stall on the second day of the India Leadership Forum 2008. | Photograph: Indranil Mukherjee/AFP/Getty Images

Also read: 'IT firms are back and hiring big time!'

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