Indian IT to Thrive Post Gen-AI Disruption, Says Nuvama Report

• Nuvama report states Indian IT services face no major threat from Generative AI, expecting the sector to emerge stronger.
• Concerns about Gen-AI's impact are dismissed, as the need for system integrators to customize enterprise software will persist.
• Similar fears during GFC, RPA, Trump's election, and Covid-19 did not hinder the industry's growth; it emerged stronger each time.
• Nuvama views this as a "deja vu moment," predicting a net increase in the industry's total addressable market.
• Despite near-term volatility, the medium-to-long term outlook is positive, with recent stock corrections making valuations attractive.