As someone here has already mentioned, it's more likely due more tech and indian tech especially moving towards clouds for the derivative cost savings ( less manpower ).
This happened in the US as well. Lots of IT positions got cut as companies consolidated much of their backend to cloud services.
But I wouldn't hold my breath on cheaper indian tech industry losing any steam and I'd still betting H1-B visas are only going to be delayed.
India has seen an increase, not a decrease, in FDI ( primarily directed to their tech sector ). It means that foreign companies/governments/etc are still investing in the indian tech sector.
This happened in the US as well. Lots of IT positions got cut as companies consolidated much of their backend to cloud services.
But I wouldn't hold my breath on cheaper indian tech industry losing any steam and I'd still betting H1-B visas are only going to be delayed.
India has seen an increase, not a decrease, in FDI ( primarily directed to their tech sector ). It means that foreign companies/governments/etc are still investing in the indian tech sector.