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Similar to DOS, C language has also lost its significance. OOPS makes coding simpler and saves overall length of code. It is more fast and reliable and most important, modification of structure is very easy. With a single module, we can code for different types of objects, and its more convenient than function calling procedure adopted in C. Most interestingly, OOPS never uses pointers, a headache in C programming for less known professionals. Noweverything is web based/network based, JSP, J2EE or anything for which OOPS technique is implimented. I am not sure if network based programming is available in C. So while doing real-life projects, its better to opt new techniques, which gives more options to the programmer to impliment his ideas and make modifications.
Thought it is not used anywhere specifically as most of the software aplication now need the usage of oops concept, C is the basic for programming concepts like functions, control structures and recursions etc...After knowing all these concepts we proceed to C++ which have further concepts called OOPS concept.
However still C is used in hardware and microprocessor programming...embedded programming and VLSI etc..So it has not lot its significance.
I am not much into software and languages but what I hear from experts that Core Java has taken over as main programming language. Maybe the language has lost its importance but it's still the basic need of all IT students.