artificial intelligence<\/a>.<\/p>\nIndian IT \u200bstocks have slumped in recent weeks, tracking global peers as investors worry that advanced AI tools would disrupt the traditional business models of software firms, shaving billions off their market value.<\/p>\n
Nasscom, the Indian IT industry body, expects \u200cthe sector to grow \u20606.1% year-on-year to $315 billion in the fiscal ending on March 31, as global IT services pick up pace, driven \u2060by easing tariff and trade tensions and rising AI investments. Revenue growth will be similar in the next fiscal year, it said.<\/p>\n
“AI is compressing \u200btraditional work \u200bbut expanding other areas of work,” \u200bsaid Srikanth Velamakanni, vice chairperson \u200cof Nasscom.<\/p>\n
“The net balance is what you’re seeing… There is not a single proposal in any tech company anywhere in the world that’s going without AI in it. It is now an inevitable, fundamental part of every proposal in every company.”<\/p>\n
Nasscom projects fiscal 2026 AI revenue from services \u200cfirms around $10 billion to $12 billion, but \u200bclarified that this does not include AI-specific \u200brevenues for all firms and \u200brevenues are set to rise “significantly” in the next few \u200cyears.<\/p>\n
India’s leading IT service providers, including \u200bTata Consultancy Services, \u200bInfosys, and HCLTech, are hopeful about better demand in the next fiscal year.<\/p>\n
Overall, the country’s IT industry is expected to add a \u200bnet 135,000 jobs in \u200cthe fiscal year, taking the total headcount to 5.95 million, \u200bNasscom said.<\/p>\n
(Reporting by Sai Ishwarbharath B and Haripriya Suresh; Writing by \u200bKashish Tandon; Editing by Mrigank Dhaniwala)<\/p>\n","protected":false},"excerpt":{"rendered":"By Haripriya Suresh and Sai Ishwarbharath B MUMBAI, Feb 24 (Reuters) – India’s information technology sector is forecast…\n","protected":false},"author":2,"featured_media":299876,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[365,363,364,2344,164802,164801,111,139,69,145],"class_list":["post-299875","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-artificial-intelligence","tag-artificialintelligence","tag-india","tag-industry-body","tag-nasscom","tag-new-zealand","tag-newzealand","tag-nz","tag-technology"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/299875","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=299875"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/299875\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/299876"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=299875"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=299875"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=299875"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}