The document discusses the Indian IT outsourcing industry. It provides an overview of the industry's growth from $150 million in 1991-1992 to $5.7 billion in 1999-2000. It notes that the outlook for the industry looks bleak due to the global economic downturn negatively impacting major clients. It also discusses major players like Infosys, and rivalry among existing players intensifying as the market stagnates. Finally, it analyzes Infosys' SWOT and strategies companies are adopting in the economic downturn, such as acquisitions and slowing wage growth.