Since the '90s - India's IT services companies (think TCS, Infosys etc) have been onboarding the strong tech talent of India and closing multi-million $ deals with Western companies.
As AI, IoT, and ML are coming into the market - enterprises are chasing cost optimization, efficiency, and/or automation to become leaner - IT services companies have their plate full.
With a ~ $200 Bn revenue pool - it's heading well towards a $500 Bn revenue pool in the next 6-7 years,
It's not just the IT services companies though since you have a large number of STEM (science, tech, engineering, maths) talent graduating every year - so some companies like to go direct i.e., international companies that set their R&D centers, engineering, and product development hubs in India
Think SAP from Germany, Walmart from the US. Fancily known as 'GCCs' - Global Capability Centres
The GCC economy is thriving as we speak - this niche roughly employs ~ 1.5 Million people in India and is going deep into the hinterlands,
The third piece of India's tech-nomy is the ER&D (Engineering Research and Development) space, ER&D comes into the picture when companies want 'innovation' in their products.
For eg - working on a modern infotainment/software system for a new Hyundai SUV.
Lastly - you have the globally respected SaaS companies (think Zoho) that are building for the world from India.
In all - the pillars of India's tech-nomy are firing on full cylinders be it artificial intelligence, machine learning, cloud etc.
Whatever tech comes in -- India's fully prepared to ship it to the masses.
TCS has been doing it for more than 40 years now and Zoho, Tata Elxsi will carry the legacy
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