The Indian software industry is set to keep up its growth rate despite the slowdown in the economy. The National Association of Software and Services Companies (Nasscom) has forecast a strong outlook for FY08-09 strong with software and services revenue seen growing by 21-24 per cent. The software and services exports are set to hit the $50 billion-mark.
The software and services exports segment grew by 29 per cent (in USD) to register revenues of $40.4 billion in FY07-08, up from $31.4 billion in FY06-07. The domestic segment grew by 26 per cent (in INR) to register revenues of $ 11.6 billion in FY07-08. According to the latest Nasscom rankings, Tata Consultancy Services Ltd., Infosys Technologies Ltd. and Wipro Technologies Ltd are the top 3 revenue generators in India. Check out the top ten players in the Indian IT industry.
Founded in 1968, TCS is one of India's largest corporate houses. It is also India's largest IT employer with a staff strength of 111,000 employees.
The company began as a division of the Tata Group, called the Tata Computer Centre. Its main business was to offer computer services to other group companies. Soon the company was spun off as Tata Consultancy Services after it realised the huge potential of the booming IT services.
The company posted a consolidated net profit of Rs 1,290.61 crore (Rs 12.90 billion) for the first quarter ended June 30, 2008, an increase of 7.3 per cent compared to the year-ago period. Its annual sales worldwide stands at $5.7 billion for the fiscal year ending March 2008. During the year 2007-08,
TCS' consolidated revenues grew by 22 per cent to Rs 22,863 crore ($5.7 billion). S. Ramadorai, is the chief executive officer and managing director of TCS.
TCS is IDC-Dataquest IT best employer in IT services in 2007. TCS also topped DataQuest DQTop 20 list of IT service providers in 2007.
Image: Chief Executive Officer of Tata Consultancy Services (TCS) S Ramadorai . | Photograph: Dibyangshu Sarkar/ AFP/Getty Images
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