India's IT Industry AI Promises Turn Out to Be Empty Words? Four Giants' Financial Reports Reveal Revenue Lagging
In Q2 2025, India's IT giants collectively fell into the AI vision bubble: Wipro secured a $2.7 billion order but saw both revenue and profits decline, TCS saw only 1.3% revenue growth while avoiding comments on the fate of its $1.5 billion AI pipeline, HCLTech boldly announced a collaboration with OpenAI but GenAI transactions dropped by 12%. The only bright spot was Tech Mahindra, whose net profit increased by 34%, but the overall industry remains stuck in a PowerPoint transformation dilemma. In contrast, Accenture has already achieved $4.1 billion in AI orders, showing that Indian companies still lack quantifiable AI financial indicators.
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