1 USD on 24th June 2008 = 42.965 INR
1 USD on 24th June 2009 = 48.555 INR
p.s. There's a REAL world outside of your belief system.
You are proving your own analyst wrong LOL
Again pasted for you.
India most affected by US economic slowdown
By Swati Prasad, ZDNet Asia
Tuesday, April 08, 2008 07:53 PM
news analysis When the United States sneezes, the world catches a cold--so the adage goes. That could prove particularly true for India's IT and IT-enabled services (IT-ITES) industry, where the United States accounts for the largest share--at over 50 percent--of the Indian software and outsourcing market.
"The U.S. slowdown will impact the smaller IT-ITES firms more," Hari Rajagopalachari, executive director at PricewaterhouseCoopers India, told ZDNet Asia in an e-mail interview. In fact, he added, it may lead to increased consolidation in the small and midsize industry segment.
According to Milan Sheth, Ernst & Young India's partner of business advisory services and leader of technology and telecom verticals, the economic slowdown will most affect midsize IT-ITES companies.
"Most small firms have very strong niches. It's the midsize firms that will be badly hit in the event of a portfolio rationalization by the American clients," Sheth told ZDNetAsia in a phone interview.
The economic slowdown in the United States has already had some impact on the Indian market.
The rupee has been strengthening against the dollar for over a year now, causing worries for Indian exporters.
The Indian stock markets also crashed due to the downturn, with the BSE Sensex dipping by nearly 13 per cent in just two trading sessions in January this year. It bounced back after the U.S. Federal Reserve cut interest rates. The BSE Sensex, or Bombay Stock Exchange Sensitive Index, comprises 30 of BSE's largest and most actively traded stocks.
"The U.S. slowdown is a long and protracted one," Rajagopalachari said. He explained that the U.S. slowdown is due to structural readjustments in the country, while the global economic scenario is caused by changing fundamentals in the currency, energy and financial markets.
"The implications for all of India's externally linked sectors are significant," he said. "The strongest and most immediate impact will be on the IT-ITES sector."