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Slowdown in sight, Indian IT firms cutting exposure to US
IS & Globalisation | IT/ITES Industry
April 28 , 2007, Indian Express
Anticipating a slowdown in the US economy, Indian software companies have started to reduce their dependence on the US market and diversify to newer markets. Though some IT companies feel that India might actually stand to benefit from a slowdown, which according to IMF's World Economic Outlook expects US growth rate to fall to 2.2 per cent from 3.3 per cent in 2006. New markets such as Asia Pacific, Japan and Latin America along with Europe are being looked at as fast growing markets.