For more than 30 years, India has been known as the world’s tech services hub. Indian companies manage IT systems, handle back-office work, and support global businesses. Today, this industry is worth about $300 billion and gives India nearly 20% share of the global tech services market.
But now, a bigger question is being asked: can India move beyond services and start building technology products for the world?
This topic was discussed in Episode 6 of India for the World, a leadership podcast by Mint and BCG. Experts from BCG and Genpact spoke about India’s strengths, the rise of artificial intelligence (AI), and the future of the tech industry.
The global technology industry is estimated at $10 trillion. Out of this, tech services make up $1.6 trillion. This number could grow to $2.5 trillion by 2030. If India keeps its current share, its tech services market could reach $500 billion in the next few years.
India already has strong advantages. It has over 7,00,000 AI-certified professionals, the largest AI talent pool in the world. More than 3,000 Global Capability Centres (GCCs) operate in India. Many of these centres now focus on AI, data, and advanced technology work, not just support services.
However, experts say India must shift from “cost advantage” to “intelligence advantage.” In the past, India’s success came from affordable and skilled manpower. Now, companies need to build smart, repeatable, AI-driven solutions that create long-term value.
There is also a need for stronger research and development (R&D). Indian firms usually spend only 2–3% of revenue on R&D, much lower than global product companies. To build world-class products, India will need more investment in research, universities, and innovation.
The future looks promising. Tech services will remain important, but product-based and AI-led solutions are expected to grow faster. If India combines its scale, talent, and innovation, it can move from serving global technology to shaping it.
