MUMBAI, INDIA: The 18th NASSCOM India Leadership Forum 2010 began here today with a call from  NASSCOM president Som Mittal to industry leaders for a cautious approach towards economic issues and a renewed focus on markets.

"Last year, at the same time, the industry was in the middle of the economic crisis and unsure of when the economy would rebound. Today, we have logged out of the 'pause mode' and are in a 'play mode'. We have to now look at going towards a 'fast forward mode'," Mittal said.

Mittal pointed out that in the coming days, the governments and regulators will play an important role. The citizens have high expectations and technology will play a significant role.

The issues related to economy, global outsourcing, cloud and other factors would continue to dog the industry for some more time. However, as we handle the economic issues, we have to ensure that the growth in inclusive.

Mittal observed that the Indian industry witnessed a negative growth in the first two quarters of 2009 after a sequential growth for several years. "This was something we were not used to," he said.

However, the industry has fared well and much changes have happened over the past one year. Much of the changes in the industry are structural in nature. The IT BPO sector has refocused its approach significantly. Their dialogue with the customers has changed significantly to help the customers achieve organizational level efficiencies.

The  NASSCOM president observed that most of the problems still faced by the industry cannot be solved by a single country, company or society. "Today, the global economy is much more inter-connected. Therefore, collaborations have to be meaningful," he added.

Mittal pointed out that in the coming days the governments and regulators will have more influential role.