After TCS and Infosys, four more Indian companies have made it to the top 25, including Wipro, HCL, Tech Mahindra and LTI.
Tata Consultancy Services (TCS) has become the world’s second largest company in the IT services sector. At the same time, according to Brand Finance, Infosys and four other Indian tech companies managed to make it to the top 25 IT services companies. After TCS and Infosys (3rd position), four more Indian companies have proved their strength globally. According to the Brand Finance IT Services 25, 2022 report, these four companies include Wipro (7th), HCL (8th), Tech Mahindra (15th) and LTI (22nd).
What is said in the report
The brand valuation firm said that all these six Indian brands are among the top 10 fastest growing IT services companies during 2020-2022. According to the report, Accenture has retained its title of the world’s most valuable and strong IT services brand, with a record brand value of US$36220 million. The report said that with a strong IT services brand and a large population of people with digital skills, India will continue to play a key role in developing infrastructure for artificial intelligence, data analytics and Internet of Things (IoT).
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TCS has grown so much
According to the report, IBM has come in fourth place. TCS has reached a brand value of USD 1680 million with a growth of 12 per cent year-on-year and 24 per cent from 2020 onwards. TCS said in a regulatory filing that the credit for this growth goes to the company’s investments in its brand and its employees, customer equity and strong financial performance. With strong revenue growth in 2021, TCS has crossed an important milestone. Revenue crossed USD 2500 million for the first time, with an industry leading operating profit margin of over 25 per cent.
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Infosys at number three
Infosys has also emerged as the fastest growing IT services company globally with the third position. This is after 52 per cent brand value growth from last year and 80 per cent growth from 2020 to USD 1280 million. The report said that in the last two years of the COVID-19 pandemic, the company has registered a growth of 80 percent.
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