Storm Clouds on the Horizon and Turbulence Ahead: The Need for a Quantum Leap
Having said that, in recent years, the Indian IT Industry is being hit with turbulence mainly on account of the changing global economic and political landscape as well as to the very real aspect of the Industry reaching a saturation point in its business models and the nature of its work.
Moreover, the Indian IT Industry is yet to take the next “Quantum Leap” into higher value adding work in areas such as AI or Artificial Intelligence, Cloud Computing, and Robotics and this is the reason why there are some worries about the future directions of the industry.
As the United States under President Trump and the United Kingdom after Brexit, begin to look inward, chances are that Indian IT firms would have to rethink their business model of Onsite and offshore work since the former requires Visas for their employees which are becoming hard to come by.
Moreover, with the global economy yet to recover fully from the Global Financial Crisis of 2008, it is also the case that Western firms would prefer to not outsource their projects. Adding to this is the real competition from other low wage countries such as Philippines and China which are attempting to replicate the low cost, lower value adding work that many Indian IT firms specialize in.