India’s outsourcing industry must adapt quickly to survive

GUEST: The Indian outsourcing industry is being hit hard as markets stagnate and U.S. visa restrictions erode profits. “Carnage in Indian IT,” one headline called it.
India’s IT industry generated almost $150 billion in revenue last year but is facing an existential crisis largely of its own making because it became complacent and overconfident even as technologies and markets changed. It can survive only if it exits the business that has brought it success and reinvents itself