The writer is chairman of Dalmia Group Holdings
For foreign investors, India’s IT service giants have often been the first port of call for investing in the country. But it has been a difficult year with the sector hit by trade tensions, US visa restrictions and worries over the impact of AI on its services. The Nifty IT index for the sector is down around 15 per cent this year. That trend, however, masks a much more positive evolution in Indian technology.
India’s tech development has gone through four main phases, each with its distinctive characteristics: the transformational rise of IT services, the development of software-as-a-service companies, the consumer internet and ecommerce boom, and the emergence of “deep tech” companies focused on complex technologies or hardware.