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
The Top 3 players--Tata Consultancy Services (TCS), Wipro and Infosys-together with Satyam , HCL Technologies , Teledata Informatics , Redington India, HCL Infosystems, Tech Mahindra , Patni Computer Systems and Moser Baer contributed the remaining $17 billion. The total number of software and BPO employees engaged by these 11 firms added up to 342,000. (even though BPO revenues are not included in this study). For detailed revenues in INR and $ refer to Notes to the Editors below.
Pradeep Gupta, publisher of Dataquest, recollects that when he started his specialty publishing house 25 years ago, the Indian IT industry was under a $100 million. Gupta adds, "India 's IT industry is now at a mature and respectable size, with healthy growth on a substantial base. And so are the Dataquest Top 20 companies. It was just four years ago that TCS crossed a billion dollars. Now, no less than 12 of the 20 are over $1 billion in sales".
