Impact on IT Sector
Information Technology enabled Services (ITES) by MNCs has probably generated the maximum number of sunshine stories in the Indian industry in the last few years. According to Nasscom, the software industry has overtaken the gems and jewellery as well as textiles industries, to become the number one exporter in the country. Currently India is the Power House, The world software Arena.
IT is now an industry, which is growing by leaps and bounds both through participation by captive units of multinationals and third party providers of Indian origin. Some of them are the big home-grown IT Services companies like Infosys, Wipro and Tata Consultancy Services (TCS).
The Top Five
The top five Indian IT companies based on FY04 revenues-TCS, Wipro, Infosys, Satyam and HCL Technologies-are the prime contenders in the race to the Fortune 500.
While the first three have made it to the billion-dollar club, the remaining two are already half way through to that mark. According to Karnik, the way things are shaping up the companies that are most likely to make it are going to be the ones from the current top 10 because the dip-offs in size are sharp beyond the top 10.
Experts feel that even within the top 10 the dip-offs start getting sharper after the top three to five companies. As a result, the likelihood is restricted to only the top five and, more specifically, to the top three.
The top companies are indeed rapidly expanding their global outlook and reach, setting up centers across the world and competing with the top tier global IT companies.
TCS is located across over 30 countries and serves clients in around 60. The global locations for Infosys, Wipro and HCL Technologies range between 10-20 countries. These companies serve some of the top clients globally including the likes of GE, American Express, Ericsson, Ford, Transco, Prudential, Deutsche Bank, and the Standard Chartered Bank. In the last two to three years, these companies have also been open to foreign acquisitions and JVs, to expand their global footprint.
And the acquisition list is very long: TCS acquired Phoenix Global Services (technology solution provider); Wipro acquired Nervewire, a US-based financial services consultant and utilities' practice of consultancy AMS; Infosys acquired Expert Information Services of Australia and US-based Trade IQ product division of IQ Financial Systems, a Deutsche Bank-owned outfit; HCL Tech has acquired majority stake in Aalayance, a business integration firm with offices in San Jose, US.
Information Technology enabled Services (ITES) by MNCs has probably generated the maximum number of sunshine stories in the Indian industry in the last few years. According to Nasscom, the software industry has overtaken the gems and jewellery as well as textiles industries, to become the number one exporter in the country. Currently India is the Power House, The world software Arena.
IT is now an industry, which is growing by leaps and bounds both through participation by captive units of multinationals and third party providers of Indian origin. Some of them are the big home-grown IT Services companies like Infosys, Wipro and Tata Consultancy Services (TCS).
The Top Five
The top five Indian IT companies based on FY04 revenues-TCS, Wipro, Infosys, Satyam and HCL Technologies-are the prime contenders in the race to the Fortune 500.
While the first three have made it to the billion-dollar club, the remaining two are already half way through to that mark. According to Karnik, the way things are shaping up the companies that are most likely to make it are going to be the ones from the current top 10 because the dip-offs in size are sharp beyond the top 10.
Experts feel that even within the top 10 the dip-offs start getting sharper after the top three to five companies. As a result, the likelihood is restricted to only the top five and, more specifically, to the top three.
The top companies are indeed rapidly expanding their global outlook and reach, setting up centers across the world and competing with the top tier global IT companies.
TCS is located across over 30 countries and serves clients in around 60. The global locations for Infosys, Wipro and HCL Technologies range between 10-20 countries. These companies serve some of the top clients globally including the likes of GE, American Express, Ericsson, Ford, Transco, Prudential, Deutsche Bank, and the Standard Chartered Bank. In the last two to three years, these companies have also been open to foreign acquisitions and JVs, to expand their global footprint.
And the acquisition list is very long: TCS acquired Phoenix Global Services (technology solution provider); Wipro acquired Nervewire, a US-based financial services consultant and utilities' practice of consultancy AMS; Infosys acquired Expert Information Services of Australia and US-based Trade IQ product division of IQ Financial Systems, a Deutsche Bank-owned outfit; HCL Tech has acquired majority stake in Aalayance, a business integration firm with offices in San Jose, US.