The growth of stock market, financial market boom and a good base of technical brains, gave the country a big push towards the Financial Technology market. In addition, financial engineered products have added the ice in developing the related softwares, KPOs, BPOs, Technical assistance overseas and within the home territory.
A bunch of Financial technologies have emerged from the last 5 years or so. And this in turn has reduced the dependency on US and European markets in a no. of ways like, employment, revenue generations, economic, company and sector specific growth etc. The expected recession in US, Sub-prime woes worldwide, might have an impact in the Indian current economic growth, but economic recession is not possible, not even a drastic slowdown. As, the in home demand for the financial products and associated technologies are quite high and a large no. of consumers are yet to be tapped. Thats why you can notice a large no. of foreign financial players entering to this market.
Possible economic recession in US could have an impact to the overall outsourcing sectors in India. It is the high time to concentrate in home grown market for the IT, ITES and Financial services companies. A blend of these sectors have already started to raise the head as frontier market segment. This is also a kind of engineering as well. This frontier will definitely ROCK!