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The IT Sector Come Back Story

The Synopsis "When America sneezes, the world gets a cold," as the saying goes. Well, it's a term that gives you a sense of the US's worldwide influence— the impacts of globalisation and all that. However, India has its own version of the quote: "When America sneezes, India develops a cold." India develops a fever when Europe sneezes beside it." It's also a nice way to characterise the Indian IT sector. Because we owe approximately 70% of our exports to two regions: the United States and Europe. As a result, when these areas experience a slump, Indian IT suffers as well. When Covid-19 hit last year, for example, IT investors were on pins and needles. Why? Because the previous global recession, which occurred in 2008, was not nice to anybody in the business. Before the financial crisis, IT businesses' revenues were increasing at a rate of 30% each year. Soon later, it plummeted to 15%. Companies all throughout the world were forced to slash costs...