The IT industry in India has grown significantly over the past decade, generating $108 billion in revenue in 2013 and employing over 3 million people. However, top IT services companies are expected to slow their hiring in 2014, adding only 130,000 new jobs compared to 180,000 jobs added in 2013. This decrease is due to IT product companies and multinational banks reducing resources and delaying start dates for new campus recruits. To remain competitive, the industry is transitioning from a focus on quantity to quality of work, outsourcing to consulting, and building innovation, solutions, intellectual property, and entrepreneurship.