India most affected by US economic slowdown

By Swati Prasad, ZDNet Asia

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.

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