In late 2007, Indian outsourcing providers posted decent financial results but lowered their earnings guidance, leading many analysts to question whether they could sustain growth in the face of market pressures such as a slowing U.S. economy and a strong rupee.
At that time, analyst CLSA Asia-Pacific Markets predicted a "… period of uncertainty and volatility ― that may extend into 2008″ for the outsourcing sector. In December, however, several Indian providers said their business was not yet suffering. Several of them did express concern over the U.S. dollar's decline against the rupee.
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