CNBC's Inside India newsletter: As AI shockwaves hit global software firms, what’s in store for India’s IT titans?

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This report is from this week’s CNBC’s “Inside India” newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse. Subscribe here.

Indian IT stocks are facing their steepest monthly declines since the 2008 global financial crisis, with the Nifty IT Index on track to drop 20% this month, as concerns over AI-led disruption pressure software stocks globally.

At the mega India AI summit last week, major tech companies announced tie-ups with leading Indian IT services firms to drive AI adoption across enterprises. India’s largest and the world’s second largest IT services company, Tata Consultancy Services, tied up with OpenAI, while Infosys partnered with the ChatGPT maker’s rival Anthropic.