Mid-Size Indian IT Firms Report Sequential Revenue Growth Amid AI Challenges

India’s mid-size IT companies like Coforge Ltd are adopting new performance metrics, such as weekly counts of large deal proposals, to better navigate uncertain macroeconomic conditions and generative AI challenges, aiming to sustain growth despite clients cutting tech spending. Coforge reported $442 million in revenue for the April-June period, surpassing competitors like Mphasis Ltd, and continues to pursue strategic growth initiatives including geographic expansion and new partnerships. On the deep tech front, venture capitalists with founder experience emphasize the importance of focusing on real-world applications early and securing investors who deeply understand the complex technologies involved, exemplified by their backing of SandboxAQ, an AI and quantum tech company delivering validated enterprise solutions. Meanwhile, in Azerbaijan, technoparks are expanding with 26 new residents this year, supported by improved infrastructure and regulatory amendments, with plans to enhance growth and export potential for resident companies. Separately, the Financial Times, in partnership with Statista, is preparing to rank The Americas’ Fastest Growing Companies based on revenue growth from 2021 to 2024, inviting businesses across 20 countries to apply by the end of 2025.