Sat Jul 05 21:16:00 UTC 2025: Here’s a summary of the text, followed by a news article based on it:

**Summary:**

Ganesh Kalyanaraman, Managing Director of Version 1 (India and North America), an Irish tech firm, reports that despite a global tech downturn, clients are beginning to spend again after the recent US “tariff drama.” Companies are seeking cost-cutting measures such as consolidation, fixed-price engagements, automation (including AI), and reduced CAPEX. Version 1 plans significant expansion in India, aiming to quadruple its headcount to over 2,000 employees in the next three years and establish India as a prominent delivery center with an innovation lab. The AI as a Service (AIaaS) market is expected to grow rapidly, reaching $91 billion by 2030.

**News Article:**

**Tech Spending Rebounds Post-Tariff Concerns; Version 1 Announces Major India Expansion**

**Bengaluru, July 6, 2025** – After a period of uncertainty following U.S. trade tariff concerns, global clients are showing renewed willingness to invest in technology, according to Ganesh Kalyanaraman, Managing Director of Version 1, a leading Irish digital transformation and AI firm. “The global tech meltdown is real, but post-tariff drama, we see clients talking to tech vendors and showing a willingness to open up their purses,” Kalyanaraman told *The Hindu*. He noted that companies are focusing on cost-cutting measures such as consolidating time and materials, seeking fixed-price engagements with AI-driven productivity, and automating manual tasks.

One in three clients are specifically exploring AI-led services, signaling a growing demand for AI solutions. Kalyanaraman highlighted the rapid expansion of the AI as a Service (AIaaS) market, which is projected to rise from approximately $20 billion in 2025 to $91 billion by 2030, boasting a Compound Annual Growth Rate (CAGR) of 35%.

Version 1 is responding to this demand by significantly expanding its presence in India. The company plans to establish India as a prominent delivery center within the next three years. This expansion will include setting up an innovation lab, partnering with academic institutions, and scaling its delivery capabilities. Version 1 aims to quadruple its India headcount to over 2,000 employees in the same period. This move underscores India’s growing importance in the global technology landscape and the company’s commitment to leveraging the country’s talent pool.

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