AI Could Unlock $400 Billion Opportunity For Infosys By 2030: Nandan Nilekani

Infosys Chairman Nandan Nilekani used the company's 45th Annual General Meeting on 23 June to push back directly against the narrative that artificial intelligence (AI) threatens Indian information technology (IT) services companies, telling thousands of shareholders that the technology would amplify firms that adapt rather than replace them.

Speaking at the meeting, Nilekani said Infosys was already working with 90% of its top 200 clients on their artificial intelligence journeys and was well positioned to capture what he described as a $300 to $400 billion AI-first services opportunity by 2030. More than three years after generative AI launched, he said Infosys was more relevant than ever.

Why Established IT Firms Can Win In The AI Era

Nilekani's argument rested on a specific observation about where enterprise AI is today. The deployment gap, the distance between what large companies want to do with artificial intelligence and what they have actually implemented, is real and closing it is where the work lies. Clients are moving to retire decades of technical debt because the AI revolution has made legacy modernisation urgent in a way nothing else has.

The value, he argued, will come from combining artificial intelligence models and agents with the traditional transaction systems that continue to run enterprise operations. That convergence is where the next wave of opportunity sits, and it is territory where companies with decades of enterprise relationships and implementation experience have a natural edge over newcomers.

The FY26 Numbers

Nilekani provided a performance summary for the year:

• Revenue: $20.2 billion, up 3.1% in constant currency.

• Adjusted operating margin: 21%.

• Free cash flow: $3.7 billion, equivalent to 112.6% of net profit.

• Large deal total contract value: $14.9 billion, with 55% being net new.

• Workforce: Over 3,25,000 employees at year end.

• Campus hires in FY26: Over 20,000.

The free cash flow conversion exceeding 100% of net profit for a second consecutive year was highlighted as a marker of financial discipline.

Also Read - Akasa Air IPO Likely in Next 2-4 Years as Airline Targets Profitability Milestones

What The CEO Added

Chief Executive Salil Parekh said technology modernisation using artificial intelligence agents had become one of the company's largest growth areas. He said all major frontier artificial intelligence and companies were working closely with Infosys and put the company's current annualised artificial intelligence services revenue at approximately $1 billion, growing at a strong pace.

Parekh described modernisation of technology using agents as one of the biggest areas the company was seeing today.

The debate around artificial intelligence's impact on Indian IT has intensified through 2026, with stocks including Infosys and Tata Consultancy Services taking hits amid uncertainty about whether AI tools reduce demand for traditional services.

Sources:

The Hindu

India Today