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: rate of Rs 40 in its guidance. This we believe is fairly optimistic and if the rupee does appreciate, the company could have a difficult time meeting its guidance,” Angel Broking said in its report.
So, what does these commentaries mean for the IT industry? To begin with the days of heady growth of 35-40% are over and it is time to look beyond the US market and diversify its geographic reach to sustain the momentum. As Accenture’s Green says: “Historically, an economic downturn in the US or the UK would have all competitors slow down together and decide not to invest. This year, the competition is about companies in the emerging markets, which continue to see growth all around them. Fifty companies in the list of Fortune 500 are from emerging markets. This says it all.”
The moot point here is that everything depends on the demand environment. While some have argued that the slowdown will lead to more demand and accelerate outsourcing, it also depends on how the world’s largest economy copes with it and wriggles out of it. For the time being, it is the story of a muted first half and a strong second half. How the script plays out, only time will tell....
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