The Indian IT industry grappled with multiple macroeconomic headwinds and has had a turbulent journey this year. However, some people, some Indian IT companies which were more conscious about their market valuation, harvested - they reduced costs and investments. The Indian IT’s relevance and competitiveness to the digital market is far lower compared to their stronghold on IT outsourcing. Some Indian IT firms that adapted to digital services and consulting will thrive, while those that focused on harvesting without investing face tougher times. Therefore structural changes and different approaches will be required to be able to capture the imagination of the customer if companies want to lead the Generative AI market.

Source: The Hindu December 31, 2023 16:34 UTC