Indian IT giants, such as TCS, Infosys, Wipro, HCLTech, and others, are arguably still testing the waters before going all-in with generative AI. They have long been considered global powerhouses and were the primary reason behind cloud adoption in the Indian workforce. Yet, tech companies have focussed less on innovation and R&D over the past decade.
Currently, the IT industry is focused on maintaining existing projects, rather than building something revolutionary. A primary reason for this reluctance is that investing in R&D requires far more capital than simply pushing existing solutions in the market.
While large multinational companies, such as Microsoft, IBM, Oracle, Adobe, and Intel, have all established R&D centres in India, Indian IT lags behind. Also, patents by revenue saw the largest gap between global and Indian firms – global companies had 13.1x patents by revenue compared to Indian players.
Mohandas Pai, the chairman of Aarin Capital, told AIM that it has always been ideal for Indian IT companies to focus on services. “Indian …