As Indian rupee slides to a record low against the US dollar, this is unlikely to cheer the Indian software services providers owing to the novel coronavirus (COVID-19) outbreak.
Analysts tracking the sector said COVID-19 was not only expected to disrupt the core businesses of IT services firms but would also defer the new deal signings.
“There are a lot of worrying factors despite the currency losing value. Their workflow and demand are facing uncertainty due to COVID-19,” said Harit Shah, senior analyst at IndiaNivesh.
The fall in core business of IT firms is likely to bring down the dollar revenue of these