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|March 13, 1999||
Ten more companies to follow Infosys to NASDAQBuoyed by the encouraging response to Infosys Technologies' American depository receipt at the NASDAQ, 10 more Indian software companies will be listed on overseas stock exchanges over the next two years.
National Association of Software and Services Companies President Dewang Mehta projected this. Welcoming the ADR listing of Infosys, he said, "It is just the beginning."
Mehta said "Till now, it is the US customers who are gaining competitive advantage by aligning with Indian software companies. But now, even US investors will have an opportunity to invest in software companies from India."
Last year, 158 of the Fortune 500 companies outsourced their requirements to India and the annual revenues of the Indian software industry during 1998-99 is expected to cross $4 billion.
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