Future of IT?

With severe recession in the west affecting the earnings of most of Indian companies, they have started announcing pay cuts or lesser increments and variable pay.When the west starts stabilising,will the trend reverse is a big question?.
The next big problem would be exchange rate.The dollar may start weakening in a couple of years getting back to the trend it was a year ago.If this happens it will start having an impact on the revenues again.IT stock were multi-baggers in the late 90s and earlier part of this decade.
Unless these companies re-invent themselves and make a big innovative breakthrough in their business models, such stellar performance of the past is almost impossible to replicate in the future.

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