The other fallout of the Satyam episode is on corporate governance. This will be trickier to sort out. Indian company leaderships, like their counterparts in other parts of Asia, are known to be family affairs. The Indian IT companies had prided themselves on having dissociated from that model. The Satyam episode has clearly shaken that somewhat. Going ahead, this is one aspect the sector will have to battle out again.
But all said, not a bad call, compared with the potential of the disaster that lurked. As I said, there is reason to welcome 2009 for India’s sunrise sector with more self-belief than one could have thought possible a week ago.
subhomoy.bhattacharjee@expressindia.com
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