The National Association of Software and Service Companies (NASSCOM) has appointed Srikanth Velamakanni, the Co-Founder and Group Chief Executive of Fractal, as its Chairperson for the 2026-2027 term. He succeeds Sindhu Gangadharan, following her successful tenure as the head of India’s premier technology trade body. This leadership transition comes at a pivotal moment as the Indian IT sector increasingly pivots toward artificial intelligence and deep-technology solutions.
A Strategic Shift Toward AI and Analytics
The appointment of Srikanth Velamakanni signifies a strategic focus on Artificial Intelligence (AI) and advanced analytics within the Indian technology landscape. As the Co-Founder of Fractal, an AI-focused enterprise that achieved unicorn status, Velamakanni has been at the forefront of the cognitive arbitrage movement. His leadership is expected to guide the industry as AI services are projected to generate between $10 billion and $12 billion in revenue during the 2025-2026 fiscal year.
Under his guidance, NASSCOM aims to accelerate the adoption of Generative AI (GenAI) and DeepTech across various sectors. The industry is currently moving beyond experimental pilot projects to scaled, function-specific deployments. This transition is essential for India to maintain its position as a global technology hub while navigating the complexities of decoupling revenue growth from traditional headcount expansion through automation and AI-driven productivity gains.
New Leadership Team for 2026-27
In addition to the new Chairperson, the NASSCOM Executive Council has elected Kishor Patil as the Vice Chairperson. Patil is the Co-Founder, CEO, and Managing Director of KPIT Technologies, a prominent global player in the automotive and mobility software sector. His appointment brings specialized expertise in Engineering, Research and Development (ER&D), which has emerged as the fastest-growing segment within the Indian technology industry.
The leadership team will work alongside Rajesh Nambiar, who serves as the President of NASSCOM. Together, they are tasked with representing the interests of over 3,000 member companies that constitute the backbone of India’s technology exports and domestic services. The outgoing Chairperson, Sindhu Gangadharan, was the first woman to lead NASSCOM’s Executive Council and played a vital role in steering the industry through the early stages of the generative AI revolution.
The State of India’s Tech Industry in FY26
The Indian technology industry is projected to reach a significant milestone of $315 billion in revenue by the end of the 2025-2026 fiscal year. This represents a year-on-year growth rate of approximately 6.1%, indicating a resilient recovery compared to previous years. The industry’s performance is underpinned by a robust export market, which is expected to contribute $246 billion to the total revenue.
| Segment | Estimated Revenue (FY26) |
|---|---|
| IT Services | ~$149 billion |
| Engineering, R&D (ER&D) | ~$63 billion |
| Business Process Management (BPM) | ~$59 billion |
| Software Products | ~$23 billion |
| Hardware | ~$21 billion |
A notable shift in the industry is the rise of Global Capability Centres (GCCs), which have evolved into “AI-Native Intelligence Engines.” These centers are no longer just cost-efficiency hubs but are increasingly focused on intellectual property (IP) generation and high-end innovation. Currently, over 70% of GCCs in India have defined AI roadmaps, contributing significantly to India’s transformation into a global “cognitive arbitrage” leader.
NASSCOM: The Voice of India’s Technology Sector
Established on March 1, 1988, the National Association of Software and Service Companies (NASSCOM) is the apex body and trade association for the technology industry in India. Headquartered in New Delhi, it is a non-profit organization that serves as a bridge between the industry and the government, advocating for policies that foster innovation and global competitiveness.
NASSCOM plays a critical role in setting global standards, promoting trade, and facilitating the development of the technology ecosystem. It represents a diverse range of members, including Indian startups, multinational corporations, and Global Capability Centres. The organization’s leadership, comprising the Executive Council (headed by the Chairperson) and the President, works to ensure that India remains a preferred destination for high-tech services and product development.
Key Takeaways
- Srikanth Velamakanni, the Co-Founder and Group Chief Executive of Fractal, has been appointed as the Chairperson of NASSCOM for the 2026-2027 term.
- Kishor Patil, the MD and CEO of KPIT Technologies, was elected as the Vice Chairperson of the association.
- Velamakanni succeeds Sindhu Gangadharan, who served as the first woman Chairperson of the NASSCOM Executive Council.
- The Indian technology industry is projected to reach $315 billion in revenue by the end of FY26, with a growth rate of 6.1%.
- NASSCOM was established on March 1, 1988, and is headquartered in New Delhi.
- Approximately 70% of Global Capability Centres (GCCs) in India have now established defined roadmaps for Artificial Intelligence (AI) adoption.
