The country’s ‘STEM talent by far is globally the most competitive’ The Indian IT Services industry occupies a dominant position in the global technology services landscape, providing cost effective and scalable solutions for enterprises across the world, writes Ramesh Mantri, adviser to the Ashoka India Equity Investment Trust. Over the last 30 years, Indian IT companies have matured from being mere outsourcing vendors to ‘strategic partners’ driving large scale transformation projects in Fortune 500 companies. India’s IT export is $150bn annually, represents circa 12% of total global IT spend and has grown by 20% CAGR over the last 20 years. Along the way, the IT Services industry has created tremendous wealth for its stakeholders and its attractiveness is also underpinned by its superior profitability and high returns on capital compared to the broader markets.