Our platform tracks equity markets with a focus on earnings momentum, valuation shifts, and sector-wide developments. Srikanth Velamakanni, the newly appointed chairman of the National Association of Software and Service Companies (Nasscom), has outlined a forward-looking agenda for India’s technology ecosystem in the age of artificial intelligence. The plan focuses on fostering innovation, upskilling the workforce, and positioning Indian tech firms as global leaders in AI deployment.
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- AI as a Core Pillar: Velamakanni’s plan places AI at the center of India’s next growth phase, encouraging companies to embed AI into their offerings rather than treating it as an add-on.
- Workforce Transformation: Upskilling initiatives will be revamped to prepare millions of tech professionals for AI-augmented roles, with a focus on continuous learning.
- Startup Ecosystem Boost: The agenda includes creating more incubators and funding channels for AI-native startups, potentially through public-private partnerships.
- Global Competitiveness: By building indigenous AI infrastructure, India aims to reduce reliance on foreign platforms and carve out a leadership position in responsible AI practices.
- Regulatory Roadmap: Nasscom will work with policymakers to establish clear, innovation-friendly AI regulations that balance growth with ethical considerations.
This strategic shift could have broad implications for India’s $250 billion IT sector. If executed effectively, it may help Indian tech firms move up the value chain, capturing a larger share of the rapidly expanding global AI market—estimated to exceed $1.5 trillion by the early 2030s.
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Key Highlights
In a recent address, Nasscom Chairman Srikanth Velamakanni elaborated on the industry body’s refreshed game-plan for India’s technology sector. The agenda, detailed in an interview with Hindu Business Line, centers on harnessing artificial intelligence to drive sustainable growth and maintain the country’s competitive edge in global IT services.
Velamakanni emphasized that India’s tech ecosystem must pivot from being a provider of low-cost services to becoming a creator of high-value AI solutions. The strategy includes accelerating the adoption of generative AI across enterprises, building a robust AI talent pipeline, and encouraging greater collaboration between startups, large IT firms, and academia.
The chairman also highlighted the need for India to develop its own foundational AI models and data sets to reduce dependency on foreign technology. Regulatory clarity and ethical guidelines for AI deployment were flagged as key enablers for widespread adoption.
This shift comes as the global demand for AI-integrated services surges, with Indian IT giants already investing heavily in AI capabilities. Velamakanni’s vision aims to ensure that the entire ecosystem—from multinational corporations to small and medium enterprises—can capitalize on this opportunity.
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Expert Insights
Industry observers note that Velamakanni’s vision aligns with the broader transformation underway in India’s technology landscape. While the agenda is ambitious, its success will depend on execution and cross-sector collaboration.
From an investment perspective, this renewed focus on AI suggests that Indian IT companies may see increased capital expenditure on research and development, as well as talent acquisition. However, the transition from traditional services to AI-led offerings carries inherent risks, including the need for significant retraining of existing workforces and potential short-term margin pressure.
Analysts suggest that smaller firms may benefit disproportionately if Nasscom’s planned ecosystem support—such as shared AI computing resources and data marketplaces—materializes. Larger players, already investing in AI tools, could leverage the industry-wide push to accelerate their own roadmaps.
The emphasis on ethical AI and regulation is also notable. Clear guidelines could reduce uncertainty for businesses deploying AI in sensitive verticals like healthcare, finance, and governance. Still, without timely implementation, India risks falling behind other nations that are moving faster on AI policy and infrastructure.
Overall, Velamakanni’s agenda positions Nasscom as a proactive enabler of India’s AI ambition. While the path ahead involves substantial challenges, the direction appears well-calibrated to the global technology shifts already underway.
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