35 is the magic number

Thats the magic number to take lot of India based BPO companies down the drain if dollar hits that number against rupee. Currently it stands at ~43.

This will cause new business development alignment to take shape.

The Reserve Bank of India has a relatively easy job protecting its $125-odd billion forex kitty -- it can hold Euro or Yen-denominated assets. In fact, the Central Bank has already started to diversify away from US government T-Bills.

The IT industry cannot shift that easily from America. Those markets produce nearly three-fourths of IT revenues and more than 80 per cent of BPO revenues.

Dont we live in a highly connected world !