by David Benady
India’s huge, successful and highly profitable IT industry is facing powerful headwinds. IT outsourcing is changing, there’s a shift to new technologies while growing competition from Eastern Europe and Latin America are forcing India to re-evaluate its strategy. The new rising stars of the global IT scene are countries such as Poland, Ukraine, Romania, Belarus and Russia. Latin American nations such as Argentina and Brazil are also growing in importance. Although their industries are small compared to the might of India, they are providing stiff competition. India’s industry grew during the offshoring boom of the 90s and early 2000s as businesses from Europe and the US struck outsourcing deals with Indian tech companies. This created a group of tech giants in Bangalore that have become known by the acronym “Twitch” - Tech Mahindra, Wipro, Infosys, Tata Consultancy Services, Cognizant and HCL.