Whatever concerns may have been sparked by the recent undersea communication cable service disruptions do not seem to have affected anyone's plans for investing in heavy growth in India-based IT companies. In a pair of related articles, CIO Magazine is reporting that Indian firms are increasing their IT budgets on average by 13% this year (compared to the global average of 3.3%), and that CRM heavyweight SAP more than doubled their sales numbers in India last year, making it the fastest growing market for the company.

All of this is unexpectedly contrary to fears of a global recession, but it may be a sign that India's technology prospects are increasingly driven by internal demands, and that off-shore outsourcing is an increasingly attractive option for other global businesses facing the prospects of a down-turn.

The CIO Magazine articles with additional figures can be found here and here.