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TCS continues to retain its top position followed by Infosys and Wipro

New Delhi, July 13, 2004: NASSCOM, the chamber of commerce of the IT software services and ITES-BPO industry in India, today announced the rankings of Top 20 IT Software and Service exporters in India (excluding ITES-BPO revenues). According to the survey, Tata Consultancy Services has emerged as the leader, clocking IT Software and Services (excluding ITES-BPO) revenues of Rs. 5,503 crores followed by Infosys at Rs. 4,709 crores and Wipro with Rs. 3,920 crores respectively.

The combined revenue of the top 20 software and service exporters in the area of IT Services, Products & Technology services is Rs. 26,464 crores (US$ 5.77 billion) in 2003-04 and have witnessed a year-on-year growth of 31.6 per cent (in dollar terms) compared to the total combined revenue of Rs. 20,668 crores in 2002-03. The software and services exports industry (excluding the ITES-BPO sector), recorded revenues of US$ 8.9 billion in 2003-04, registering a growth of 25 per cent over the revenue of US$ 7.1 billion in 2002-03.

Speaking on the survey, Mr. Jerry Rao, Chairman, NASSCOM, said, "The Indian IT software and services companies are truly turning global. A growth of around 30.5% during 2003-04 by the software and services industry has placed this sector amongst the highest performers within the Indian market. The top 20 software and services exporters continue to account for nearly 65 per cent of the total IT software and services exports."

Mr. Kiran Karnik, President, NASSCOM, said, "While the top 20 IT software and service exports continue to drive the overall growth of the Indian IT industry, Small and Medium Enterprises have also performed well during 2003-04. Two Indian companies are now in the billion-dollar export league, and we expect a few more to join them in the near future. The robust performance by software and services exporters is evidence of the tremendous value that the industry is providing to its customers in terms of quality, productivity and reliability."



Despite challenges such as the volatility of the rupee, Indian IT companies have witnessed significant growth in their revenues. This has been possible as Indian companies are increasingly moving beyond traditional service lines being able to draw more strategic business as well as bag larger contracts from their customers and tap new geographies.

Indian IT companies, apart from consolidating their presence in traditional verticals such as BFSI, also diversified into new verticals such as Telecom, Retail, Utilities and Healthcare. Some leading players also moved into new services lines in the IT services arena such as IT consulting, packaged software implementation and systems integration.

Apart from the Indian companies, MNCs are doing an increasing amount of their software development and design work at their captive centres in India. In the coming years, IT software and service project execution will take place through a global delivery model, with most companies offering three-tier delivery and a network of global centers.

Methodology for ranking
NASSCOM collects figures from its member companies on a quarterly basis for the IT software services and IT enabled services industry. These figures are collated on behalf of the Reserve Bank of India. In addition to this, NASSCOM also sends out a detailed Snap Survey questionnaire annually to all its member companies, accounting for 95 percent of the Indian IT software and service industry revenue. Information collated through the questionnaire includes: aggregate performance; service lines; verticals and geographies. The Snap Survey form also takes into account the contribution of the 100 percent owned overseas subsidiaries after deducting all the double accounting.

About NASSCOM
NASSCOM is India’s National Association of Software and Service Companies, the premier trade body and the chamber of commerce for the IT software and services industry in India. NASSCOM is a truly global trade body with around 850 members, of which nearly 150 are global companies from the US, UK, EU, Japan and China. NASSCOM’s member companies are in the business of software development, software services, and IT-enabled/BPO services.