Indian IT disrupts itself to get back on the growth trajectory

India’s top IT firms are back on growth path as clients they serve increasingly invest in technology to be competitive and avert business disruption from startups.

A few years ago, Indian IT firms saw their traditional business model under threat from digital — a set of technologies that help clients build applications for both desktops and smartphones and access them on the internet anywhere and anytime. Global banks and manufacturing firms were cutting their spending on traditional services and shifting their budgets to digital. At the same time, growing protectionist sentiments in its main market, the US, meant that firms faced roadblocks in getting H-1B visas and had to hire high-cost resources locally.