"We keep certain part of our funds offshore too like US subsidiary account," Globussoft CEO Sumit Ghosh told PTI here. It has helped us a lot in "tackling the Indian rupee against USD", he said.
The digital media software firm Globussoft claims to have 4,500 customers in more than 50 countries. "While we were able to gain due to rupee depreciation during past few months, the sudden appreciation of the Indian currency has prompted to hedge our risks so as to avoid the hit," said Ghosh.
Nearly 15-20 per cent income of Array Networks, which is into application delivery networking, comes from its clients abroad. Hence, the company has started quoting in USD from its clients abroad.
"Most of our products are imported, while all of our orders are in INR. When there is a delay in the projects, it really hurts the bottomline of every player including OEMs," regional sales director-India, ME and SEA at Array Networks, Shibu Paul said.
"We have requested some of our Indian global customers to place orders in USD in US for meeting our global requirements," he said. Taking orders in USD helps in controlling fluctuations, Paul added. Netrack Enclosures, which acts as a single window solutions provider for all data, network and server-related concerns, feels that appreciation is bad for exporters.