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
Up only times are here! 🚀
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