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Economy

Dec 16, 2002
IT companies are in big league.

This may sound as no news and even boring, for who has not heard of India’s software proficiency? But then let us put it down for the record and maybe get some numbers to go with our ‘feeling’.

A report by National Association of Software and Services Companies [NASSCOM] --reviewed by Ashwin Panchal for the New Indian Express on Dec 16,2003-- says India’s big IT companies are bigger than you think.

The review compares major Indian cos., TCS, Infosys, Wipro, Satyam and HCL Tech with global majors EDS --world’s largest in revenue--, Accenture and KPMG Consulting.

EDS has 15 times the number of people that Infosys has and earns 40 times the revenue. But its market capitalisation is just twice that of Infosys’s. And Infosys’s operating profits are three times EDS’s 10%.

A few of the benchmarks in the old economy, when applied to the software industry show Indian companies turning the tables US majors. In terms of revenue and profit per employee Indian cos. leave the first world companies, leagues behind. India’s competitiveness is unbeatable for some decades.

The review ends with a tantalising note: when India’s central and state governments take to eGovernance --as they sure will soon-- Indian software companies will hit pay-dirt. In contrast the party is over for global companies either because the scope of work for them in their countries is small or their governments have already completed the process. What the review does not say is that when eGovernance is in place in India, public life will be more transparent, equitable and clean.

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