India is one of the largest markets of Information Technology and Information Technology-enabled services. It is not an exaggeration to say that the progress made by India in the field of science and technology is a thing of envy for many other nations.It has put the county on the world map.
The year 1991 saw the opening up of the economy and employment in the area of technology, and since then, it has only attracted more and more of the Indian youth in this sector. Hence, it is no wonder that India is called the back-office of the world. Let's take a look at some of the most successful and respected Indian companies which have earned a reputation across the globe.
Tata Consultancy Services Limited (TCS)
CEO: Rajesh Gopinathan
Headquarters: Mumbai, Maharashtra
Tata Consultancy Services Limited (TCS), founded in the year 1968, is a part of the Tata Group. It has its presence in 46 countries worldwide. In 1975, TCS developed an electronic depository and trading system for a Swiss company. That came to be known as SEMCOM.
TCS was listed as a public company in the year 2004. It is the first Indian IT company to achieve a market capitalization of $100 billion, with a capital of about $102.6 billion on the Bombay Stock Exchange (BSE). During its initiation, the present-day Tata Steel and Central Bank of India were its first clients. By the start of the 21st century, Tata Consultancy Services established its e-business unit in the United States.
TCS has to its credit establishing India's first-ever software research and development center known as Tata Research Development and Design Centre in Pune, Maharashtra. The company went on to find a place at number 10 in the Fortune India 500 list in 2018. With a female workforce of about 35.3%, TCS stands as the largest employer of women in India.
Tata Consultancy Services achieved the global rank of 64 in the Forbes World's most innovative companies. Such a feat put TCS on a very high pedestal, making it the highest-ranked IT services company. Given the lure of Indian youth towards jobs in information technology and engineering sectors, Tata Consultancy Services created more than 12,000 employment opportunities in the first quarter of 2019. Further, more than 30,000 fresh graduates received offer letters for the entry-level jobs by TCS.
CEO: Salil Parekh
Headquarters: Bengaluru, Karnataka
Infosys Limited is an information technology giant that was established in 1981 by Mr. N. R. Narayan Murthy along with his team of six other engineers. The company started with an initial capital investment by each partner of about $250. Today, Infosys Limited has its presence in 45 countries worldwide, providing its clients with global business consulting and information technology services. The company has created a niche in developing strategies to bring about a digital transformation for businesses.
Infosys is responsible for bringing a turn around in the state of affairs for a large number of businesses by reinvigorating and improving their conditions. The principle idea revolves around creating efficiency and relevancy to adapt to the markets needs and trends.
With a workforce of more than 243,000 employees, Infosys has gradually climbed up the ladder of corporate and business success. It is well reflected in its achievement of becoming a US $10.9 billion company in the financial year 2018 with a market capitalization of more than US $40 billion.
Infosys Limited is the first-ever Indian company to get listed on the NASDAQ electronic exchange in the year 1999. In the same year, Infosys ranked as one of the biggest companies on NASDAQ in terms of market value. The annual revenue earned by Infosys in the year 1999 was US $100 million, which increased to US $1 billion by the year 2004.
Infosys witnessed a continuous rise as the annual revenue reached the US $10 billion mark in the year 2017. As for 2020, the annual revenues earned by Infosys Limited stands at US $12 billion.
CEO: Abidali Neemuchwala
Headquarters: Bengaluru, Karnataka
The complete name for Wipro Limited is Western India Products Limited. It was established in 1945 originally as Western India Vegetable Products Limited by M.Hashem Premji.
With a manufacturing unit in Amalner, Maharashtra, Wipro initially started as a refined oil manufacturer in its first version. It was in the year 1980 that Wipro entered the field of Information Technology after Azim Premji took over as the chairman of the company.
Wipro Limited established itself as a market leader in the Information Technology sector by providing consultation and business processing services to businesses. Today, the company is involved in business with clients across six different continents with the help of cloud computing, analytics, and robotics. Wipro has been at the forefront of utilizing modern era technology to help businesses harness the ongoing digital trends to achieve success.
With an active presence in more than 175 cities, Wipro Limited is the seventh-largest Information Technology company in the world, with a workforce of more than 160,000. As of 2018, the company was valued at US $11.56 billion, whereas the revenue generated by Wipro in that year was US $8.4 billion.
Wipro was responsible for providing the software and hardware support for the ambitious UIDAI project by the Government of India. The Information Technology services provided by the company include consulting, information system outsourcing, system integration and research, and development services. Furthermore, Wipro is famed for its IT-Enabled Services. The company deals with a wide range of sectors such as healthcare, transportation, manufacturing, retail, financial services, telecom, media, energy, and utilities.
Hindustan Computers Limited Technologies (HCL)
CEO: C Vijayakumar
Headquarters: Noida, Uttar Pradesh
HCL arrived in the area of software services and information technology in the year 1991 as an offshoot of its parent company that was founded by Mr. Shiv Nadar. With offices in 46 countries worldwide, HCL has operations in engineering, research and development, applications, and infrastructure. The BPO services by HCL are regarded highly by the industry experts.
HCL Technologies is primarily engaged in providing a range of software services, infrastructure services, and business process outsourcing. The company has been successful at changing the fortunes of several businesses by bringing about a transformation with the use of modern practices and digital technology. HCL deals in various areas such as public services, media and entertainment, server and storage, transportation and logistics, oil and gas, retail, and consumer businesses. It has also been a successful player in industrial manufacturing; mining and natural resources; life science and healthcare; consumer electronics; and software vending.
With an extensive network of offshore infrastructure and offices present in various countries, HCL promotes its professionals to become a key asset in the growth and development of the company.
Following the principle of 'Employee First, Customer Second,' HCL Technologies has created an impressive internal working environment that focuses on transparency and accountability within the organization. It is well reflected in the performance by this company as it secured a place in the list of Fortune Global 2000 companies. With a market capitalization of about US $21.5 billion, HCL Technologies earned a consolidated revenue of US $9.3 billion in 2019. HCL Technologies has been on a constant rise and is expected to increase its market share in the coming times.
Tech Mahindra Limited
CEO: C. P. Gurnani
Headquarters: Pune, Maharashtra
Mahindra & Mahindra incepted in the year 1945 as a steel trading company. In 1986, it entered into a joint venture enterprise with British Telecom. It entered the Information Technology sector by acquiring Satyam Computer Services in the financial year 2008-09. The investment was made through a subsidiary company and the acquisition saw the doubling of employees. By the year 2012, the joint resources of Mahindra & Mahindra and Satyam Computer Services gave birth to a new venture known as Tech Mahindra. This enterprise was valued at US $2.5 billion.
Tech Mahindra functions in a variety of fields such as Business Process Outsourcing (BPO), network technology solutions, etc. A diverse range of industries use its services. Today, it has its presence in more than 90 countries, with more than 131,000 employees globally. Tech Mahindra is the fifth-largest IT company in India and was placed in the list of Fortune 500 companies. With a market valuation of US $9 billion, Tech Mahindra has earned a revenue of US $5.2 billion in the ongoing financial year of 2019-20.
Tech Mahindra is a market leader in providing consulting-led integrated portfolio services to its clients. Its main areas of operation are telecom service operators, telecom equipment manufacturers, business process outsourcing, and information technology infrastructure services.
The company has also been functioning to deliver enterprise-level solutions services such as IT enabled service (ITe-S) to the retail and logistics, manufacturing, healthcare, and life sciences sectors.
The internal work culture and coordination between the senior and junior level of employees has helped the company to grow fast.
CEO: Debashis Chatterjee
Headquarters: Bengaluru, Karnataka
Mindtree was founded in the year 1999 by a group of entrepreneurs led by Mr. Subroto Bagchi. As a digital transformation and information technology-oriented company, Mindtree has been a key player in the IT sector. Its services have been employed by clients across the world to develop successful projects from the stage of ideation of the level of execution.
With a workforce of more than 19,000, Mindtree has a client base in varied sectors such as cloud computing, mobile application, data analytics, e-commerce, and digital transformation. Its services in the EAI and ERP fields are regarded highly. With 43 offices in more than 15 countries, Mindtree has more than 335 clients worldwide.
MindTree established a development centre in Chennai, Tamil Nadu, known as MindTree Coromandel, in 2008. Similarly, the company opened a Testing Center of Excellence (CoE) in September of 2008 to test the quality and performance of HP's testing tools. The establishment is a joint effort by HP and Mindtree Limited. The company has received several awards and accolades for its performance. In 2008, MindTree was adjudged to be the best Indian private sector company in the field of learning and development.
In the year 2014, Mindtree became a billion-dollar company in terms of its operating profits. The company has a reputation for providing high-quality training to its employees.
CEO: Nitin Rakesh
Headquarters: Bengaluru, Karnataka
Mphasis was formed as a result of the merger between the Indian company BFL Software Limited and the US IT company Mphasis Corporation in the year 1992.
Mphasis ranks at number 7 in the list of Fortune India 500. As an information technology company, Mphasis has its clients throughout the world, providing IT technology, architecture guidance, application services, and integrated solutions. It has more than 60 offices around the globe. With its subsidiaries in countries like the UK, the USA, Canada, China, Singapore, etc., MindTree has been on a constant rise. The company enjoys an ISO certification of 9001-1994.
The company introduced blockchain-enabled digital solutions in the year 2018. It was done to provide a higher degree of security, governance and efficiency for the banking, insurance, and financial services.
Mphasis was acknowledged as one of the IAOP 100 Global Outsourcing companies in the year 2014. In the same year, it bagged a silver medal for its performance at the Best Contact Center Awards in the category of APAC Large Outsourced Contact Center.
With a workforce of more than 18,000 employees, MindTree has touched an annual revenue of US $1.2 billion.
The rise of IT-based companies is one of the biggest reasons behind India's emergence as a global power. It is no surprise that with impressive performance and delivery, companies such as TCS, Infosys, Wipro and others are constantly attracting more business and opportunities to the country. We hope you enjoyed reading this article.