Nasscom, the body that represents the lucrative technology industry in India, has unveiled its rankings of the top IT software and services exporters in India.
Topping the list was Tata Consultancy Services (TCS), part of one of Asia's largest conglomerates (the Tata Group), which generated IT software and services revenues of $1.64 billion in 2004, excluding business process outsourcing (BPO) revenue. Infosys and Wipro were not far behind with revenues of $1.50 billion and $1.20 billion, respectively.
The strength of the Indian technology sector was underlined by the overall growth level of software exports. Revenues in 2004, at $12 billion, were up 30.4% on the previous year's total of $9.2 billion.
"The Indian software and services industry has been able to maintain its growth momentum," says Kiran Karnik, president of Nasscom. "Offshore adoption amongst the Fortune 500 companies is increasing rapidly – from 300 in 2003 to 400 companies in 2004," he says.
The survey excluded IT-enabled services and business process outsourcing revenues (a sector that makes up approximately a third of all technology-related exports from India). Neither did it include US-headquartered companies, such as Cognizant, whose IT services delivery model makes extensive use of operations in India.
There are around 3,000 IT companies in India currently exporting to over 150 countries across the globe.