That would be a best case scenario and I doubt that's what's happening.
And instead of bringing those services back locally, nearshoring will probably be considered first.
Its not the managers who made the decision. Its the shareholders, ultimately its capitalism that made this decision.
Maybe the managers in the west who made the decision to lay off entire IT departments and replace them by Indian companies started realizing that with the cost of the impedance mismatch in language and culture between a company and its IT deparment, off-shoring is more expensive than running a domestic IT department.