For Indian service providers to become truly world class, they will need to spend on in-house forex talent. Check out this case where the story suggests "Nishar said that company does not have have any in house expertise to enter into forex deals." from the cnbc article.
This indicates low risk-management maturity of the vendor. If the earnings are in USD and costs are in INR then one cannot ignore forex. In the past, I had blogged about how Infy couldn't manage its forex here.
I extend this hypothesis of managing forex better to any Indian exporter. If you want to have a sustainable business in a global economy, you must have economists and forex specialists at your disposal.
Business case for forex specialists?
Now, in case of Hexaware, Nishar can argue that he cannot afford to have a full-time position for just forex as Hexaware is relatively small. This observation leads to business-case for forex consultants. I am not talking about forex-agents, who sometimes claim to be forex consultants. I am talking about hardcore economists or forex specialists.
Govt intervention?
For India to be truly world class with the nature of companies it is coming out with, GoI policies need to incentivize forex education initially. Traditionally, everyone has been focussed on engineering and medical to such an extent that there is huge dearth of these other functions' personnel.
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