And we're still talking about secure from Covid right?

Not exactly, we're talking about the economic effects of it. If we want to sit here and pretend that India is about to be wiped out by Covid then that's a bit different, but you cannot predict that at this point.

IT is bigger than server and desktop support.

It is, but times have changed and the amount of IT workers has reduced from the 80s/90s... it's not nearly as big as it used to be. Just account for virtualization technology alone, you do realize that nowadays you can run several hundred servers on one physical box, right? That means one sysadmin can usually manage the hardware where back in the day you'd need about 10 of them.

Then factor in cloud platforms like AWS, you do realize that companies are now running virtuals in the cloud now, right? Because those companies do not even need to hire ANYONE to touch physical servers, they can literally have dipshit college kids reboot them every so often. Much of IT is moving towards network security, and again much of those companies who provide security are not based in America.