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India's IT companies must look for new growth drivers

Emerging technologies, Asian markets can offset pressure on US revenues

| India
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Indian IT companies need to look beyond Europe and America, which are increasingly turning protectionist, to maintain growth momentum.   © Reuters

India's information technology companies are facing unprecedented challenges from narrowing profit margins and U.S. President Donald Trump's restrictive immigration policies. To survive in this new world, they should look at business areas such as cloud computing, robotics, artificial intelligence, data analytics, and augmented reality, and at serving industries other than the financial services and telecommunications clients on which they are focused.

In the financial year ended March 2010, the IT sector reported revenues of $74 billion, including $50 billion of exports. Over the next six years, revenues surged to $160 billion, with $108 billion of exports counted in the year to March 2016.

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