The infotech sector, which is currently undergoing a bad patch, will rebound within a year's time.The crash of Nasdaq, poor performance of technology powerhouses like Lucent (the holding company of the Bell Labs which has fed the telecommunications revolution) and Qulacomm, and last but not the least the events of September 11, have cast serious doubts on the once thriving sector (New Economy).

Despite the failures of dotcoms the fact remains that the power of Internet is yet to be unleashed. While the death of banks, stores, schools etc. that was predicted at the height of Internet boom hasn't happened, it is too premature to write off Internet as a medium of tones of content with one application called e-mail. Internet is yet to make an impact on the people's life. The Internet revolution will be unleashed by the biggest killer application possible by the Internet that is e-governance. Success of e-governance will act as an example for others to develop commercial applications and deploy them on the Internet. To achieve and sustain e-governance applications governments will support and fund Internet activities; this will be a marked departure from the notion that Internet will be independent of governments. Another notion about Internet that has been defeated by the September 11 events is that, Internet signifies freedom and no respect for national boundaries. Internet will be rigorously monitored; in short as far as Internet is concerned it is the end of innocence and a process of adoption to reality.

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