AI a growth driver, not disruption risk: Management acknowledged industrywide AI productivity headwinds of 25-30% over the next 3-5 years but expects these to be more than offset by AI tailwinds in existing services (2030%) and AI driven new services (30-40%) thereby cumulatively boosting the industry by 50-70%, over the same period (Exhibit 3-9). Strong outlook across core verticals: BFS, Insurance, Travel and Public Sector remain core growth engines. Management also sees increasing opportunities in healthcare and government-led digital transformation programs. Management...