You are absolutly correct.Very few people in India understand that most of the IT companies in India do not even have a well known product.These companies only suply manpower and charge on an hourly basis in terms of USD wheras they pay their staff in Indian rupees.Now with the rupee appreciating, they are finding it tough to pay the salaries of their staff and at the same time maintian their profit margins which are usually more than 100%.My advice to the IT and ITES staff would be not to agree for working extra hours and at the same they should not agree for pay or increment cuts.These IT companies in India have enough reserves with them to sustain for the next one year.
