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Infosys not to cut prices

Infosys, India’s 2nd largest software service provider will not cut prices, though it’s a major gainer from the rupee’s sharp decline in value against the USD. The company’s executive chairman N R Narayana Murthy said that instead the company will focus on increasing value to its clients.

“If you give me a dollar and I give you back two dollars of business value, the value leverage is two,” said Murthy at the Motilal Oswal Financial Services 9th Global Investor’s Conference. He further added: “but if I convince you to give me a dollar and 25 cents, and give you 3 dollars value, then the business value leverage is 2.65. This is a win-win situation for both of us as its better to add business value than reduce prices.”

The Indian rupee has fared the worst among all other currencies of developing countries and has depreciated almost 19 per cent since the beginning of this year. IT companies benefit largely from the rupee depreciation as they earn their revenues in dollars and euros and their wage bill is paid only in Indian rupees.

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