Cost cutting by Elon Musk’s DOGE may ‘pain’ TCS, Infosys, Wipro and other Big Indian IT companies as well; caution analysts

India’s IT companies, already struggling this year, face a potentially prolonged recovery, with analysts suggesting fiscal 2026 may not bring the anticipated upturn, according to a report in Reuters. This pessimistic outlook follows Accenture’s recent quarterly report, which highlighted persistent weakness in discretionary spending and overall demand. The Indian IT index has declined by 15.3% this year, on track for its worst quarter since June 2022, with major companies like TCS, Wipro, Infosys, and HCLTech experiencing losses ranging from 11.2% to 18.1%, Reuters reported.

Accenture becomes first ‘tech casuality’