The Top 20 Indian infotech and services firms generated $28 billion in sales thus recording a 42% year on year growth in the fiscal ended March 31, 2007 may not come as a surprise. What may well be surprising is that nearly half of these 20 firms are foreign multinationals.

The global multinationals competing with their Indian counterparts from Indian soil include HP, IBM, Ingram Micro, Oracle, Cognizant, Cisco, Intel, Microsoft and Lenovo. Together, these nine firms employed 144,380 people and notched up revenues of $11 billion (Rs. 49,721 crore). The foreign multinationals recorded a growth 39% over the revenues logged in 2005-06.

This has been revealed by the CyberMedia group's flagship publication Dataquest in its 20th "DQ Top 20" annual survey of the Indian IT industry. The survey tracks IT industry performance for each fiscal year (the Indian fiscal year is April to March). Tata Consultancy Services, Wipro and Infosys Top 3