He said firms with high IT spending could benefit from lower operating costs, while innovation-driven businesses may gain from faster model testing and scenario analysis enabled by AI tools.
“So, there will be big winners coming out from this,” he said.Also Read | US tariffs on Indian exports may average 15-17%: JPMorgan
According to him, companies focused on research, pharmaceuticals, telecom, and digital platforms could see efficiency improvements as data processing and experimentation become cheaper.
While uncertainty remains around the near-term outlook for IT services, Vora believes the sector has the ability to adapt its business models.
He pointed to the industry’s transformation after the Y2K technology cycle, when companies shifted toward consulting, implementation, and outsourcing services.
“They will have no choice now but to reinvent themselves,” Vora said, adding that Indian IT firms have the talent and flexibility to adjust to technological changes.
He also noted that long-term contracts and steady cash generation provide stability despite market volatility.
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Vora said current market reactions reflect rising anxiety around AI disruption, particularly in global technology stocks, but added that corrections could create investment opportunities if prices adjust further.“I think we’ll probably get closer very fast… the way there is panic in the market,” he said, referring to potential entry points emerging after declines.
Trust Mutual Fund currently remains underweight on IT at the index level but may reassess exposure if valuations become more attractive.
Vora highlighted data centres as a growing investment theme, noting that rising AI adoption will increase demand for reliable power infrastructure.
He said transformer manufacturers, transmission and distribution companies, and generator suppliers could benefit indirectly as data centres require large backup power capacity.
India’s ability to expand power generation and renewable capacity may support continued investment in the space.
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Commenting on concerns raised in recent Citrini Research report about AI disrupting sectors such as food delivery, Vora said such scenarios may take longer to materialise.
He noted that brands and customer trust still play an important role in consumer behaviour, suggesting structural changes would unfold gradually rather than immediately.
Despite global uncertainties linked to trade policies and technology disruption, Vora said he remains positive on broader markets.
He expects lending businesses, capital goods companies, power and infrastructure plays, and select consumer discretionary segments to benefit from improving domestic investment trends.
For the full interview, watch the accompanying video
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