India's outsourcing industry is worth 300bn. Can it survive AI?

India's outsourcing industry is worth $300bn. Indian technology stocks have seen an unprecedented rout over the past few weeks over fears of artificial intelligence upending the traditional outsourcing model that powers the country's $300bn (£223bn) back-office industry. The sell-off - part of a global correction in traditional software and IT stocks - preceded the market nervousness caused by recent geopolitical uncertainty, and is particularly significant for India. Over the past three-and-a-half decades, India's software industry has created millions of white-collar jobs, spawning a new middle class driven by high ambition and strong purchasing power. This, in turn, has fuelled demand for apartments, cars and restaurants across top-tier cities such as Bengaluru, Hyderabad and Gurugram over the past 30 years.