The Indian IT and ITeS (IT-enabled services) industries are big. Clocking in over $150 billion in annual revenue, they are estimated to contribute nearly 8% to India’s GDP. They are also employment magnets, collectively employing nearly 4 million people.
They are also not in the pink of health. These industries are grappling with slowing revenue growth, layoffs, rising protectionism in markets like the US, and the ignominy of being bested at their own outsourcing game by competitors like Accenture.