IBM, Infosys, and Wipro entered Kochi. Only one emerged unscathed

At Kochi's Infopark, two models of the IT industry sit 500 metres apart. 

Infosys and Wipro: sprawling campuses, thousands of engineers, margins built on scale. 

IBM: a smaller hub, senior-heavy teams, focused on enterprise AI. Same city, completely different bets on the future.

India's IT giants are expanding into tier-2 cities because they're cheaper. 

But AI is quietly making the old logic — hire more, deliver at scale — look like the wrong answer. Infosys and Wipro's stocks have nearly halved since 2021. IBM's has doubled.

So what does Kochi reveal about where Indian IT is actually headed?

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