Golden age of Indian IT is over, for good
Thursday, July 12, must have felt a little bit like Friday the 13th for many stakeholders in India's IT services industry. Early in the morning, Infosys announced its quarterly financial results that were a huge disappointment for the investment community. The company's US dollar revenues, which are a key metric for a business like Infosys, had shrunk by 1.1%. Late in the evening, India's largest IT services company TCS came out with its own numbers.
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