I for one think that the SEO India industry is yet to expand not too much, but it certainly won't shrink either. As the internet markets in third world countries begin to develop, we'll see a big increase in the numbers of SEO companies. Or a decrease, if a specific company makes a run for a monopoly in the SEO Company India. It's hard to tell, but the internet business is undeniably growing. And as more and more companies discover that they can attract clients via the internet, the bigger and bigger the SEO business will get.
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