India's services exports grow by over 33%
New Delhi, June 27
Tata Consultancy Services has retained its lead as the top IT software and service exporter in India followed by Infosys Technologies Ltd and Wipro respectively, according to Top 20 rankings for 2005-06 compiled by the National Association of Software and Service Companies (Nasscom).
Satyam Computer Services ranked fourth, while HCL Technologies and Patni Computer Systems grabbed the fifth and the sixth slots, respectively. i-flex Solutions Ltd, Tech Mahindra (formerly Mahindra-British Telecom), Perot Systems TSI, L&T Infotech Ltd, in that order, made it to the list of top ten software exporters (excluding ITeS and BPO).
The others software companies that completed the top 20 rankings for 2005-06 were Polaris Software Lab Ltd, Hexaware Technologies Ltd, Mastek Ltd, Mphasis BFL Ltd, Siemens Information Systems Ltd, Genpact, i-Gate Global Solutions Ltd, Flextronics Software Systems Ltd, NIIT Technologies Ltd, Covansys India Ltd, respectively.
Nasscom did not disclose the revenues of the companies that figured in the list saying it had omitted such details for the sake of uniformity, as some of the companies were privately held.
The list also does not include companies such as Cognizant, Accenture, IBM and HP, which are US-listed companies but have significant offshore operations in India and would have been placed amongst the Top 10 companies were they to be ranked, Nasscom said in a statement. In addition, companies such as Kanbay, Syntel and Intelligroup all with an India-centric global delivery model but unable to provide India specific revenue details are excluded from the list, Nasscom added.
Commenting on the survey, the Nasscom President, Mr Kiran Karnik said, "India's services exports grew by over 33 per cent in 2005-06 to clock revenues of $17.3 billion, led by a strong demand and increased traction for traditional services , new services , and new areas like engineering services."
Mr Karnik also pointed out that India had become a hub for global MNC firms for software development, supply chain management and other services"These players are beefing up their presence in the Indian market by investing over a billion dollars and setting up establishments here, indicating a vast and yet untapped market for Indian software companies," he added.