Perfect AI storm is bearing down on India’s outsourcing giants
The bad news for Indian IT investors is that last Friday’s share bloodbath may only be the beginning as investors digest the threat to the sector posed by AI.
The brutal sell-off which hammered India’s largest software exporters was triggered by an earnings warning by Accenture, considered an outsourcing industry bellwether.
“The industry is still hoping that conditions normalise,” says Parekh Jain, chief executive of Pareekh Consulting. “But there’s nothing that suggests some immediate turnaround.
