IBM thinks that India may lead the second wave of IT adoption as companies here kept up investments despite the recession. Big Blue said that Indian companies were more forward thinking than counterparts globally.

More than 40 per cent of Indian companies, surveyed by IBM in July, said they wanted to be first to adopt a new technology, while only 11 per cent said they would wait till technology was widely available. An IBM spokesman said the survey showed that in India companies have cut back less and have really continued their investments. Small-and-medium businesses are the engines driving IT economic growth.

While many companies that suffered from the recession but Indian companies have continued and survived because they seem to be more forward-looking than their counterparts in the West and round the world. Big Blue has identified India as one of its major growth markets and will continue to invest here along with Brazil, China and Russia.