Despite the pandemic blues, Indian IT companies ruling the roost. 2021 has been a great year for the Indian IT companies, having seen an average growth of 51 per cent in contrast to the drop of 7 per cent witnessed by the US companies.
According to the Bajaj Finance IT Service report TCS is now the second most valued IT brand in the world. The other Indian companies that have made it to the list of TOP 10 global IT Companies by value are Wipro, HCL, Tech Mahindra and LTI.
The brand value of TCS surged to $16.78 billion with an increase of $1.84 billion or 12.5 per cent. Infosys, with a value of 12.8 billion became the fastest growing IT service brand,on the back of 52 per cent and 80 per cent since 2020. The two brands have pushed down IBM to fourth place. It currently has a value of $10.6 billion after a drop of 34 per cent from last year.
“Our clients have rapidly scaled their digital adoption in the last two years and have reposed tremendous trust and confidence in our ability to help them transform.” said Salil Parekh, CEO, Infosys.
The report says that the growth of the TCS is due to its successful partnerships and investment in its employees, equity and strong financial performance. “This great achievement is the result of strong financial growth and continued investments in a new global brand positioning last year. I also see TCS’s focused commitment to serving the needs of its employees, customers, and communities, which always – in the long run – drives brand performance,” David Haigh, CEO and Chairman of Brand Finance, said.
HCL which currently holds the 8th position with a brand value of $6.1 billion this year has seen a growth of 10 per cent since last year. It has signed 58 different projects that include telecommunications, life sciences, manufacturing and technology.
There has been a shift towards remote working which has facilitated the expansion of IT services in India. Moreover, with the country having a large population with digital skills, it will continue to play a major role in developing infrastructure for AI, Data Sciences and Internet of Things (IoT). India will certainly remain as one of the key players in the IT sector globally.
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