New Delhi, June 11 -- US real estate technology company Opendoor is winding down its India operations, the company's chief executive officer, Kaz Nejatian, announced on X on Wednesday.

As a result, the company laid off nearly 250 Indian employees as the company decides to focus on 'small AI-native customer-facing teams' that work in the US, who will be close to its customers.

Is this a one-off for the company, or is it the start of something larger? Should India expect this to play out as a larger trend? Is AI going to impact India's role as the world's back office? Mint explains.

What happened to Opendoor's India operations?

A few months ago, Opendoor launched what Nejatian called 'Opendoor 2.0', in which the company built its own in...