India, April 14 -- Over the past couple of years, and especially in the recent past, Indian IT is on the back foot, with its back firmly against the wall. Valuations have dropped, margins squeezed, and even toplines rattled. Look at TCS, the most prominent firm. In 2025-26, it reported a more than two per cent decline in annual revenues, the first time since it was listed more than two decades ago. The stock price is down by a third compared to the high in 2025. Since February this year, it shed almost INR 750, or more than 20 per cent. Yet, TCS seems optimistic.

In a media interview, the firm rejected the predictions that the IT sector may become obsolete by 2030 due to artificial intelligence (AI). Its CEO, K Krithivasan, instead claim...