India’s IT sector faces job cuts as firms rebuild for AI
Thousands of IT employees in India are out of work. The cuts span homegrown giants like TCS, Infosys, and Wipro, as well as global firms such as Accenture, Oracle, IBM, and Capgemini. Companies say they are reshaping themselves for AI, cloud, and product-focused services. Analysts, however, warn that deeper forces are at play.
In 2023–24, India’s IT and ITeS exports touched around USD 199 billion, accounting for 25.6% of total exports worth USD 778.2 billion. For 2024–25, exports are projected to reach USD 224 billion—about 27% of total estimated exports of USD 824.9 billion. The sector remains a pillar of India’s export economy, even as layoffs mount.
