India’s leading IT firms — Infosys, Wipro, and LTIMindtree — beat quarterly revenue forecasts on Thursday, signaling a turnaround in demand as global clients begin investing again, especially in artificial intelligence (AI) and automation projects.
The upbeat results follow a strong performance by Tata Consultancy Services (TCS) last week, raising optimism for India’s $283 billion IT industry, which had been struggling with weak discretionary spending and tariff-related uncertainty.
“We are benefiting from consolidation plays on automation and on using AI for efficiency,” said Infosys CEO Salil Parekh, highlighting “huge opportunities in enterprise AI.” Infosys now expects full-year revenue growth of 2–3%, narrowing its earlier forecast of 1–3%, supported by strong deal bookings.
Wipro CEO Srini Pallia noted a similar trend: “New demand that’s picking up is AI. Clients want to move away from proofs of concept to implementing AI across business processes and workflows.”
Analysts say the results mark a stabilization in the IT sector, with demand returning from industries such as banking and financial services. StoxBox analyst Sagar Shetty said the numbers show “a sector gradually regaining traction amid shifting client priorities toward AI and digital acceleration.”
Smaller rival LTIMindtree also exceeded revenue estimates, driven by strength in its banking portfolio, while analysts at Anand Rathi said “most Indian IT firms are showing green shoots,” indicating that the worst of the slowdown may have passed.