Mid-sized Indian IT firms add $1.1bn and narrow FY26 gap
Mid-sized Indian IT companies like Coforge, Mphasis, and Persistent Systems made some real moves in FY 2026, adding $1.1 billion in new business and closing the gap with the six largest firms, including TCS and Infosys, who added $1.9 billion in new business.
Even with all the AI uncertainty, these smaller firms are proving they can keep up.
Mid-tier firms add 12,000 FY26 hires
Some of the big IT companies saw 1% to 6% revenue growth, while others declined.
mid-tier firms managed anywhere from 1% up to a solid 30%.
They also added more than 12,000 employees in FY26, while large firms cut more than 6,500 jobs overall, with TCS reducing its headcount by more than 23,000 employees.
Leaders say there's still strong demand for maintenance and security work even as AI shakes things up, so there's cautious optimism heading into FY 2027.