"It
was with the dawning of the Y2K problem that the West woke up to the
potential of Indian IT. In itself, the Y2K crunch did not involve much
of a complexity; it was something that had to be completed within a
certain time period. Every corporation needed it badly. At the time,
there were perhaps 100-125 Fortune 500 companies working with Indian serviceproviders
; the Y2K made almost all 500 of them embrace the Indian service providers."