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AP News Online

IT, Pharma sector markets get the Jitters

With the US president Donald Trump’s “America First” strategy emerging as a new risk for the Indian economy, specially the IT sector, domestic financial markets are bracing for a fresh round of volatility when they open on Monday.

Trump’s maiden presidential address on Friday has unnerved India’s biggest export industry – IT services.  close to 75% of the industry’s $150 billion revenue comes from exports, and 60% of these exports are to the US. Trump’s By America, Hire American campaign has potential to hit the Industry hard as US companies could slowdown their IT outsourcing to foreign(primarily Indian) companies, squeezing margins pharmaceuticals is another sector is jittery as Trump has owed to force the US  drug industry to produce and cut prices.

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