If observe carefully then one can realise that it is dollar which is weakening due to internal pressures in the US economy. Rupee has not done much vis-a-vis Euro or British Pound. Only because we have pegged majority of our exports against USD, we are facing this dilema
RE:Rupee is not rising but dollar is weakening
by Kishore Kumar on Jul 25, 2007 10:25 AM Permalink
That is correct, it is the dollor weakening. IT companies primarily Infosys & Wipro, they concentrated only on US not the other countries, that is why their profits are decreasing. In contrast TCS gets less revenue from US, though their profits affected not much as Infosys. The most unfortunate thing is IBM is eager to grab the IT contracts in India, but our BIG 4 companies hate to provide service to our Indian Companies. IBM bagged 2 Telecom Contracts (Airtle, Idea) our companies not even bothering about it. It is pity.
