Indian IT Industry Faces $250 Billion Wipeout as AI Disrupts Traditional Outsourcing Model

India's $250 billion software services industry is experiencing a market value wipeout of Rs 4.5 lakh crore in the past 7 trading sessions, with the Nifty IT index plummeting 14%. The damage has been indiscriminate, with major IT stocks like Infosys, TCS, HCL Tech, Wipro, and Tech Mahindra losing 10-16.5% of their value. The trigger for the selloff is the AI disruption, with some calling it a "SaaSpocalypse." Experts warn of structural headwinds, reduced timelines, and automation, potentially impacting deal wins, topline, and pricing power.