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India engages global powers to protect $300 billion IT sector amid US outsourcing fears
Union Minister for Electronics and Information Technology Ashwini Vaishnaw told Moneycontrol that New Delhi's strategy aims to protect India's $300 billion tech sector from any protectionist shift in Washington.
The Indian technology sector is projected for a higher growth rate this fiscal year, with industry body Nasscom forecasting a 5.1 percent revenue increase to $282.6 billion. The sector is expected to cross the $300 billion mark in fiscal 2026, adding 126,000 new jobs on a net basis.
India is in "continuous engagement" with global corporations and foreign governments, including the US, to counter potential outsourcing restrictions under a new Donald Trump presidency. Union Minister Ashwini Vaishnaw told Moneycontrol that New Delhi's strategy aims to protect India's $300 billion tech sector from any protectionist shift in Washington.
The minister’s comments come amid rising speculation over a potential crackdown on US companies outsourcing work, fueled by remarks from sections of Trump’s "Make America Great Again" (MAGA) base. Peter Navarro, a former trade advisor to Trump, recently suggested tariffs on foreign remote workers, a policy that could directly impact India's IT services model, which employs over 5.67 million people and relies heavily on overseas clients, particularly in the US.
Vaishnaw, who holds the portfolios for Railways, Information Broadcasting, and Electronics and IT, stated that India is not only engaging with multinational firms that have global capability centers (GCCs) in the country but also with the governments of the US, Europe, Japan, and Southeast Asia. "The effort is to ensure that this vibrant industry, which provides high-quality employment, remains intact and continues to grow,” he said.
The minister also highlighted India's broader strategy of building domestic resilience through a major push in electronics and manufacturing. He noted the growth in electronics manufacturing and the localization of the supply chain, emphasizing a dual approach of "protecting jobs and increasing new opportunities."
The Indian technology sector is projected for a higher growth rate this fiscal year, with industry body Nasscom forecasting a 5.1 percent revenue increase to $282.6 billion. The sector is expected to cross the $300 billion mark in fiscal 2026, adding 126,000 new jobs on a net basis.
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