Tata Consultancy Services: India's biggest it outsourcer writes software for clients American Express among others. Seems the bigger TCS gets, the faster it grows; revenues leapt 45 percent in the last year. Market cap has doubled since listing 3 years ago. Earns nearly all of its revenues overseas but will move some of its work back to India as the strong rupee begins to pinch.

Tata Steel: Made history with the $13 billion takeover of Britain's Corus Group, prompting headlines about a postcolonial payback. Raised $4 billion in equity and $7 billion in debt to finance the deal. Together with its 2005 purchase of NatSteel, Tata will have capacity of 28 million tons, making it the world's sixth-largest steel producer.

Wipro: The rich rupee is eating into margins but making acquisitions more attractive. Buying a New Jersey data-centre firm for $413 million. Planning a software development centre in Atlanta-all part of a plan to become more of an insourcer and less of an outsourcer by bringing in more non-Indian employees.