BANGALORE: Early signs of a potential slowdown in the US, marked by high unemployment and weakening consumer demand, is causing anxiety among India's top tech firms deriving more than half of their business from the world's biggest market for software outsourcing.
Concerns of worsening macro-economic factors including falling housing prices can delay new technology investments by American firms, force outsourcing customers to renegotiate lower billing rates for software projects and could eventually affect the growth forecast for India's $70 billion IT sector if a recession takes shape, experts and company officials say. In an ET poll among five of the top 10 biggest Indian tech firms conducted over past week, two CEOs raised concerns while the remaining three said they remained cautious about a potential double dip.
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