TCS remains top software exporter

By agencies   |   Friday, 17 June 2005, 19:30 IST
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NEW DELHI: TCS has again emerged as the top software and service exporter in the country during 2004-05, followed by Infosys and Wipro. According to the `Top 20 IT Software and Service exporters in India' ranking by National Association of Software and Services Companies (Nasscom), TCS topped the list with export revenues of $1.73 billion (Rs 74.49 billion) followed by Infosys with export revenues of $1.48 billion (Rs 68.06 billion) and Wipro at $1.26 billion (Rs 54.26 billion). Speaking on the survey, Nasscom President, Kiran Karnik, said, "Despite a larger base, the Indian software and services industry has been able to maintain its growth momentum and delivered better-than-expected results. Software exports, the mainstay of the industry, grossed $12 billion in 2004-05, up from $9.2 billion in 2003-04, indicating a growth of 30.4 percent for the year." Nasscom expressed optimism about the long-term potential of this industry with offshore adoption increasing rapidly among Fortune 1000 clients. "This recent momentum complemented by low penetration levels of less than two percent, will continue to drive rapid offshore adoption," Karnik added. Satyam Computer Services is ranked fourth in the list with revenues of $785 million (Rs 33.77 billion). HCL Technologies was at the fifth slot with revenues of $619 million (Rs 26.64 billion). Unlike 2003-04, there has been no change in ranking in the top five slots during 2004-05. IBM Global Services India and Patni Computer Systems are ranked sixth and seventh respectively, while i-flex Solutions with revenues of $258 million (Rs 11.10 billion) was ranked at eighth position. Mahindra British Telecom with revenues worth $212 million (Rs 9.13 billion) and Polaris Software Lab Ltd $162 million (Rs 6.97 billion) occupy the last three places. The survey, however does not include companies, such as Cognizant, which are listed in the U.S. but have significant offshore functions in India. In 2004-05, Cognizant, which had recorded global revenues of $675 million (Rs 29.06 billion), would have been at 5th place in the list had it been included. Accordingly, Syntel, Covansys, Intelligroup all with an India centric global delivery model are excluded from this list. Nasscom said the industry witnessed rapid growth during the year as clients continued to grow with leading vendors. The top 4 firms alone have about 660 $1 million clients, up from 441 in 2003-04. There are around 3,000 IT companies in India exporting to over 150 countries across the globe, the Nasscom said.