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How India went from being a giant of global outsourcing to a dwarf of the Internet economy

By B. Sambamurty & Santanu PaulThe first decade of the twenty-first century was a time of fabulous fives. Indian IT was popping champagne, celebrating the global rise of TCS, Infosys, Wipro, Cognizant and HCL. Indian cricket was reveling in the awe-inspiring batting prowess of Sachin, Sehwag, Ganguly, Dravid and Laxman. The era of oppressive license raj and excessive diffidence was drawing to a close.

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