$130-b Software Sector Braces For Currency Correction

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After TCS and Mindtree set the alarm bells ringing with their cautionary outlook, exporters in the $130-billion sector are bracing for currency volatility, as global currencies have depreciated sharply against the dollar in the recent past.

The slowdown can also be attributed to the decline in demand for IT services from sectors such as telecom, insurance and energy, said Sanchit Gogia, Chief Analyst & CEO at Greyhound Research.

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