AI erases $186 billion, 45% from Indian IT market value
Business
India's top IT companies just faced a massive shake-up: AI tech has wiped $186 billion (that's 45%) off their combined market value in less than two years.
The sector dropped from $413 billion in late 2024 to just $227 billion by May 2026, amid disruptive AI-driven changes in the industry.
TCS $87bn, Wipro $21bn losses
TCS and Wipro took the biggest hits, losing over half their value ($87 billion and $21 billion gone).
Tech Mahindra and Persistent Systems saw smaller drops of around 25% to 30%.
While this is the largest loss in absolute market-cap erosion for Indian IT, similar crashes happened during the dot-com bubble in 2000 and the financial crisis in 2008, showing how much tech shifts can shake up the industry.