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The second is our unique presence in India and middle east, a billion dollar business, where we are neck to neck with IBM and we are a very strong system integration solutions provider of theirs. We are leaders in RIM, the Remote Infrastructure Management, which differentiates us from many of you in the global consulting companies.And the third one is our presence in R&D, $1 billion business. Each of those three areas, middle east, India Middle East, the infrastructure business and R&D business, they are close to $1 billion business which is not in same size or competency with our competition. In terms of the last year and how it is there for future, last year we had a major organizational change. We had a CEO change. We moved from joint CEO structure to a single CEO structure and we had made changes on the GTM, the Go To Market piece. We made changes in leadership level one and two. We made changes in the back end, process fix and we think we have done what we need to do and we are looking towards realization of benefits of the actions, what we have taken so far. I think there is a lot of stability in the company. The attrition has come down. We have tracked well on the sequential growth in revenues the last two quarters, above 4.5% on a constant currency basis, on a sequential basis. We are looking very positively towards the future and we know that this year, 2012 or fiscal 2013 is going to be more, on the GDP side we will desolation in GDP across the world. Europe is going to be flat. U.S. is going to be about 1.7%. China and India are going to come down from China from 9.3 to more like 8.4%, 8.5% and India from 8.5% to about 7.4%, 7.5%. Europe is about flat, like 0.3%, 0.4%.
So that is one perspective. The second perspective, of course the larger macro issues in Europe still remains a main issue which nobody has got a clue on that. Any which ways, it will go in terms of linkages to various economies and the banking part of it. As far as the budgets are concerned, the budgets are getting released and we’re not seeing a big discretionary spend at this point in time but what believe is the discretionary spend will come back and we’ll see more of 2011 discretionary spend as we move towards April, June and September quarter.We think that we have the right organizational structure, the right leadership in place and in terms of the strengths what we have in several verticals and geographies continues to help us in terms of building on the benefits of what we got and with the new organizational we think that we’ll continue on our path in terms of growing above the industry average. Julio Contreras - Goldman Sachs Maybe just to help us frame a little bit about the sort of the current environment and what we’ve heard from a couple of the other guys compared to date, you sound a little bit more optimistic on just the state of things, not that things are accelerating dramatically but just that with the new budgets in place, decision making seems to be running its course. Obviously we did have that huge precipitous fall off that people might have been fearing, late last year and so kind of compare that against your comments I guess in terms of when you say the discretionary spending is delayed or it’s not going to include June quarter, is that kind of company specific or vertically specific for you guys or where would those areas of delay sort of be evident for you guys in the model? Read the rest of this transcript for free on seekingalpha.com