India’s Real Estate Will Meet the Reality of Agentic AI

The outsourcing industry, India’s largest white-collar employer, is a juggernaut that has all but stopped moving. The dollar revenue at the top five software-services exporters has grown slower than 3% for 10 straight quarters — a shadow of the double-digit expansion in the previous two decades. As these firms squeeze hiring to survive the existential challenge posed by artificial intelligence, the aftershocks are starting to upend everything from real-estate demand to mortgage-underwriting norms.

Last week, Bengaluru-based Infosys Ltd. forecast a much slower pace of increase in sales than analysts had been expecting. At smaller rival HCL Technologies Ltd., revenue for the March quarter declined from the previous three months.