Not even in TCS, but this enraged me

You have to look at the business model they operate. Hire cheap resources in our country, charge client more for the work than what employees get payed for. The difference in between is profit which let's them stay in business, pay people on bench, train new freshers, invest in infrastructure of offices etc.

For tier 3 college students it's a good stepping stone to get into industry and then upskill and leave.

P.S. Ex-capgemini employee

TCS operates at 20% margin. Now assume TCS starts paying double salaries to everyone (you can't expect fresher to only get double salaries right) (BTW TCS CEO is also one of the lowest paid ceos amongst large IT cos). TCS goes into loss and starts firing, who get fired ? The low raters. 10% firing means at least 60k jobs lost in TCS alone. Hence the salary they pay.
Talented employees are always open to move and switch.

It shouldn't enrage you. They're providing jobs to 5L+ Indians. They can be a niche provider but this is their model. People are open to join the Googles of the world if they match that calibre. There's a place for every kind of company.

In a public forum what else can he say?.