India IT Majors Face Slower Growth

India’s largest IT services companies reported stronger-than-expected October–December results, but four of the top five now enter January–March (Q4 FY26) with weaker full-year trajectories. TCS risks an annual revenue decline needing $7.78 billion in Q4 to match $30.18 billion, Infosys, HCLTech and Wipro expect slower growth while Tech Mahindra may improve, and analysts cite AI-led pricing pressure and weak demand visibility.