Buy G by Dec 2, 2026.

**Focus Entities:** Genpact Ltd (NYSE: G) | ExlService Holdings Inc (NASDAQ: EXLS) **Industry Context:** Business Process Outsourcing (BPO) & Digital IT Services # Executive Thesis The India based Business Process Management (BPM) industry is undergoing a structural transition from labor arbitrage (headcount-driven revenue) to autonomous workflow orchestration ("Service-as-Agentic-Solutions"). Genpact's formal pivot to an agentic AI framework in early 2025—mirrored across direct peers like ExlService Holdings and Cognizant—is an existential necessity aimed at decoupling revenue growth from billable headcount. While the …