No risk, lower profits.

"Tata Consultancy Services (TCS), India's top software-services exporter, beat second quarter revenue estimates on Thursday (9 October)." "Sales in the September quarter rose 2.4% to $7.4 billion." Profits rose 1.4% to Rs 120.75 billion," which converts to $1.36 billion at Rs 88.70 per one dollar (xe.com). "TCS's total order bookings stood at $10 billion during the second quarter." Reuters. "TCS's plan to invest up to $7 billion in a 1 gigawatt data center unit in India has sparked cautious reactions," and "pushed TCS shares down as much as 1.5%." Ruetes. "TCS has acquired 100% stake in ListEngage, a US-based full-stack Salesforce partner, for $72.80 million in cash, to boost its Agentic AI capabilities." HT. TCS reported a very respectable full year revenue of $29.08 billion in 2024, (Bajaj Broking) whereas US IT services company Accenture reported revenues of $64.9 billion in 2024 (wikipedia). "As early as 2019 - long before the pandemic and Gen AI explosion - Accenture began requiring its entire workforce of nearly 700,000 people to complete mandatory AI training." As a result, "In the 12 months leading up to August 2025, Accenture pulled in $4.78 billion in new business - a figure that surpasses the combined incremental revenue ($3.91 billion) generated by India's 15 largest IT services firms in 2024-25," wrote Jas Barda & Varun Sood. "When Microsoft first invested $1 billion in OpenAI in 2019, the deal received no more attention than your average corporate venture round." "In November (2022), the San Francisco-based startup introduced ChatGPT, a chatbot that went viral thanks to its ability to craft human-like replies to users' queries about nearly any topic." By April 2023, "Microsoft's cumulative in OpenAI has reportedly swelled to $13 billion," and it is "the exclusive provider of computing power for OpenAI's research, products and programming interfaces for developers," "which means massive workloads running on Microsoft's cloud servers." CNBC. "Over the past couple of weeks, Arattai, developed by Indian tech company Zoho, has become a viral sensation. The company says it saw seven million downloads in 'seven days last week'." "Arattai, which means banter in the Tamil language, had a soft launch in 2021." "While the app offers end-to-end encryption (E2EE) of video and voice calls, it does not currently extend this feature to messages." BBC WhatsApp does and has over 500 million users in India. The Indian government cannot directly access WhatsApp messages and "WhatsApp itself does not store message content, and it explicitly states that it cannot and does not produce the contents of user messages in response to any government request." ET. WhatsApp even took out full page newspaper ads to assure privacy in India. NDTV. Can Zoho defy the government? US companies can take risks. Indian companies can't. Not possible.