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AI upheaval wipes billions as India’s IT leaders shed 45 percent value since late 2024
Economy
Published on 15 May 2026
A single month shows markets already pricing AI disruption
India’s top software exporters could lose $200 billion in market value from their peak levels as disruptive AI changes how clients deploy technology services. A basket of leading firms hit a record $413 billion aggregate market cap on December 13, 2024, but by May 14, 2026 it dropped to $227 billion, a 45% fall. So far in 2026, the group has shed about 30%, with TCS and Wipro down more than 50% from peaks.
- Estimated total market value loss: $200 billion from peaks
- Aggregate market cap fell 45% from $413B (Dec 13, 2024) to $227B (May 14, 2026)
- In 2026 alone, the sample lost $98.7B or 30% in market cap
- TCS and Wipro each dropped over 50% from their individual peaks
- Tech Mahindra and Persistent Systems declined 25% and 30%, relatively lower
- Past IT drawdowns: up to 75% in 2000 and 50–70% in 2008
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times