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.
India’s IT hiring is undergoing a structural shift toward value-led recruitment, not mass hiring. A foundit IT Trends report says AI/ML, cloud, and cybersecurity now drive about 65% of tech demand. Skill-based hiring is set to exceed 70% adoption, with Tier II cities nearing 40% of incremental roles. GCCs will add around 132,000 jobs in 2026.
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Anthropic and OpenAI are moving beyond selling models, now offering end to end enterprise AI services. With large new investments, they are embedding engineers directly with customer teams to design, deploy, and manage custom AI systems. The shift threatens traditional work for India’s TCS, Infosys, and Wipro, but also opens fresh partnership routes for firms that can integrate AI faster and better.
India’s IT sector is facing fresh uncertainty as new US H-1B visa fees threaten to raise costs. Yet leading firms say they’re buffered by strong profits and cash reserves. Meanwhile, the US continues to confront a tech talent shortage, keeping demand high for Indian professionals and reinforcing growth backed by India’s large STEM graduate base.
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