In our recently concluded survey “Infrastructure Agenda 2009” highlighting what CIOs expect to see in 2009, achieving cost efficiency has been rated as the top business priority by almost all the respondents. Since this survey was initiated and concluded well after the pink pages have meticulously documented the global financial meltdown, it is clear that managements are expecting CIOs to optimize what they already have in place.

In contrast to this, a majority of enterprises, almost 56%, are expected to increase their IT spend for 2009 to the tune of 20% to 40% whereas 24% of the enterprises would spend a similar amount as in 2008. Can this then be the emergence of a ray of sunlight out of the dark clouds of gloom?

India, with its growing domestic consumption is expected to tide the turmoil by just merely getting scratched and not mauled. Market capitalization of companies may halve, but cash flows remain strong. Managements may get tight fisted and apprehensive about the year to unfold, but already the pink pages are reporting of private equity players investing into the country, takeovers and buyouts are gaining equal headline space to gloom and doom reports.

It is just apt that 2009, according to the Chinese calendar, is the year of the Ox. As per the legend, the Buddha, on Chinese New Year, asked all the animals to meet him, and twelve showed up. Fittingly, the Buddha named a year after each one, thus imbibing the person born in that year to have some of the corresponding creature’s personality.

The attributes of the Ox are prosperous, patient, tireless towards work, and capable of enduring hardship without complaint.
These attributes are what we, in addition to the kids born in 2009, will need to imbibe to get through the year.