A Wake-Up Call for Cash Rich, Idea-Poor Indian IT

For over three decades, Indian IT has thrived on outsourced services, particularly from the US. That model now faces its biggest challenge. The proposed US HIRE Act, which seeks to impose a 25% tax on outsourced services, directly targets India’s $250+ billion IT export industry. If passed, it could sharply hit revenues at TCS, Infosys, Wipro, and HCLTech. While industry voices have been arguing that this disruption could be an opportunity, a few leaders look at the situation from a different angle.  Vivek Singhal, founder of VSpartans Consultants, in an X post, urged Indian IT companies to “focus on creating products that can replace American software — email services, cloud storage, maps and navigation.” With a domestic market of 1.4 billion users, the case for self