India's information technology industry is forecast to exceed the 300 billion USD revenue mark for the first time in the current fiscal year, despite stock fluctuations due to concerns that artificial intelligence (AI) could change traditional business models.
According to Nasscom (National Association of Software and Services Companies of India), industry-wide revenue could reach about 315 billion USD in the fiscal year ending March 31, up 6.1% over the same period.
This rate is expected to be maintained in the following year thanks to the recovery of global information technology service demand, cooling trade tensions and strong increases in investment in AI.
Recently, Indian technology stocks have fallen according to global trends as investors worry that AI will replace some traditional software outsourcing services, causing businesses to lose competitive advantages.
However, experts believe that the impact of AI is two-sided, narrowing down some old jobs but at the same time opening up many new opportunities with higher value.
Mr. Srikanth Velamakanni, Vice President of Nasscom, said that AI has become a core element in every technology proposal globally.
According to him, there are currently no technology projects separate from AI, because businesses in all fields are looking for ways to integrate this technology to increase productivity and optimize costs.
This association forecasts that revenue from AI-related services alone in fiscal year 2026 could reach 10 - 12 billion USD, although this figure does not include the entire AI revenue of businesses.
Nasscom believes that the scale of the AI market will increase significantly in the next few years as the demand for digital transformation continues to explode.
Leading information technology service corporations such as Tata Consultancy Services, Infosys and HCLTech all expressed expectations that demand will improve in the coming fiscal year, especially from US and European customers who are increasing spending on AI and automation.
In terms of human resources, India's information technology industry is expected to create about 135,000 jobs this year, bringing the total number of workers to nearly 5.95 million people.
This shows that although AI causes much debate about labor replacement, the technology sector continues to play a pillar role in economic growth and jobs of this South Asian nation.
