Demand fall appears to have halted: TCS

Tata Consultancy Services Ltd,India’s biggest software exporter by sales,is seeing a halt in demand decline for outsourcing services,its Chief Financial Officer S. Mahalingam said on Wednesday.

An army of low-cost English-speaking engineers had driven an outsourcing boom in India,but turmoil in global markets and a recession in the United States,which accounts for more than half the sector’s revenue,have slowed the scorching pace of growth.

Mahalingam said a lot of cost-control measures were needed in the company.