The value of US dollars earned by exports have cut into India’s high growth IT sector, says a study by CyberMedia.
It states that Indian IT companies more than the slowdown has been hit harder by the fact that Indian currency rupee gained 9% against dollar in 2007/08. However, domestic IT market in 
India is going strong. Global players like SAP, Dell and Accenture have entered the Indian IT’s top 20 list. Specialist firms like Financial Technologies and Bartronics have showed mani-fold rise in revenues while companies like HP and Cisco topped Rs. 5000 crore annual revenues earned within India.
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