BANGALORE: General Motors, the 100-year-old automaker is the latest to join the bankruptcy assembly line, as it announces what turns out to be possibly the third-largest bankruptcy in the history of US.

One of the biggest bankruptcy filings in the auto sector has made another big dent to the already battered business climate in US. Well, talk of India and GM's marquee IT vendors, and it could be a not-to-be-taken lightly crater. Or just a little chink if you think broad and long-term. In fact, it could translate into a good business punch ahead, if one sees the opportunities that jack up later.

Indian IT majors like Tata Consultancy Services, Wipro and Satyam Computer Services have been running multi-million dollar deals with General Motors that has filed for bankruptcy, and it's not hard to guess the first question that sparks up next.

Would the bankruptcy filing herald business loss on the IT dashboard? Responses are mixed.

Wipro's statement says that "its accounts receivable from General Motors was less than $8 million and does not expect to be hit by the U.S. automaker's bankruptcy filing."

The company states that GM accounts for less than one percent of its IT services segment revenue, and as it assesses, a substantial portion is expected to continue.

As to Infosys, a company spokesperson refused to make any comment on the GM bankruptcy issue saying that as a matter of policy the company would not make any comment on its individual clients.

Tech Mahindra could not be reached for comment on the response apropos Satyam.

Turn to analysts and the damage -crunching becomes a little clear. It ranges from immediate and short term to serious hit on revenues.

Since these IT service providers are among the critical vendors who provide services to GM and other companies which are of critical nature hence they would continue to exist and get business from these US corporations and the impact of bankruptcy would be immediate and short-term, says Mohammad Saif, Deputy Director, Consulting, ICT Practice, Frost & Sullivan, South Asia & Middle East.