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Big Tech (India)

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Big Tech in India, also known as the Indian IT Giants, are the largest companies in the Indian information technology industry. The definition primarily includes Tata Consultancy Services, Infosys, HCLTech, and Wipro, and also often encompasses Cognizant and Tech Mahindra. They are referred to in the media as "Big Six" or "Big Five",[1][2] and with acronyms such as TWITCH[3] and WITCH.[4][5]

The companies are among the dominant players in the global delivery model, providing IT consulting, outsourcing and offshore software development to Fortune Global 500 corporations and government entities. All six companies feature among the 20 largest employers in India. Five of them are part of the NIFTY 50 benchmark index of most valuable publicly-listed companies, while the sixth, Cognizant, is part of the Nasdaq-100.

Background

In the 2000s, Gartner coined the acronym SWITCH, to refer to the six largest Indian IT companies Satyam, Wipro, Infosys, TCS, Cognizant and HCL. This acronym and the term "Big Six" subsequently found wide usage in forecast reports of other analysts and news media.[6][1][7][8][9][10] Following Satyam's liquidation and business transfer to Tech Mahindra, the acronym shortened to WITCH,[6][11][12] while several outlets started using TWITCH by replacing Satyam with Tech Mahindra.[13][14][15]

Even after Cognizant shifted its headquarters from India to the United States, analysts have continued to refer to it as an Indian-heritage company, as a large majority of its workforce (about three-fourths) remains in India like its India-based peers.[16][17][18][19] Some definitions in the Indian stock market context omit Cognizant from the grouping because it is not listed on the Indian exchanges.[2][20]

Members

The table below lists companies that have been frequently included in the definition, sorted by market capitalization.[21]

Rank Company name Market capitalization (October 2024) Revenue (for fiscal year 2023–24)
1 Tata Consultancy Services ₹1,480,901 crore (US$177 billion) ₹245,315 crore (US$29 billion)
2 Infosys ₹774,894 crore (US$93 billion) ₹158,381 crore (US$19 billion)
3 HCLTech ₹509,070 crore (US$61 billion) ₹111,408 crore (US$13 billion)
4 Cognizant US$38 billion US$19 billion
5 Wipro ₹292,337 crore (US$35 billion) ₹92,391 crore (US$11 billion)
6 Tech Mahindra ₹166,725 crore (US$20 billion) ₹52,912 crore (US$6.3 billion)

See also

References

  1. ^ a b "Big 6 'Switch' to bigger deals, corner 2.4% of global work". The Economic Times. 13 June 2008. Retrieved 13 July 2024.
  2. ^ a b "Investors know better when to buy or sell stocks of Big Five IT firms". Mint. Retrieved 13 July 2024.
  3. ^ Fersht, Phil; Fleming, Reetika; O'Brien, Melissa (1 July 2016). "Tech Mahindra Becomes the New T in TWITCH". HFS Research. Retrieved 13 July 2024.
  4. ^ "The WITCH Report: 2020 Mid-Year Review". Damo Consulting. Retrieved 13 July 2024.
  5. ^ Choudhary, Lokesh (2 January 2023). "WITCH vs FAANG Saga to Continue in 2023". Analytics India Magazine. Retrieved 13 July 2024.
  6. ^ a b P. V., Harikrishnan (8 January 2009). "Satyam saga: SWITCH to WITCH to ITCH". OneIndia. Retrieved 13 July 2024.
  7. ^ Kripalani, Manjeet (19 February 2008). "India: Zero Hour for India's Tech Companies". Der Spiegel. Retrieved 13 July 2024.
  8. ^ "To beat crisis 'switch' firms switch terrain". The New Indian Express. 14 May 2012. Retrieved 13 July 2024.
  9. ^ "'Indian IT growth outpaces global biggies'". Business Standard. 27 September 2007. Retrieved 13 July 2024.
  10. ^ "Switching to Big League". Business Today. 3 October 2007. Retrieved 13 July 2024.
  11. ^ Joshi, Yugal; Dhingra, Ritika (31 July 2013). "Will Satyam's Itch "TWITCH" the "WITCH"?". Everest Group. Retrieved 14 July 2024.
  12. ^ Flinders, Karl (3 December 2013). "Where is Satyam now? Well, it's not Satyam for a start". Computer Weekly. Retrieved 13 July 2024.
  13. ^ "IT Services Exports : From SWITCH to TWITCH". DQ India. DataQuest. Retrieved 13 July 2024.
  14. ^ Philipose, Mobis (3 November 2017). "Indian IT's hiring freeze suggests weak demand will continue". Mint. Retrieved 14 July 2024.
  15. ^ "Mahindra Satyam is now Tech Mahindra: Welcome to the TWITCH". Forbes India. Retrieved 13 July 2024.
  16. ^ "Cognizant topples Infosys as No 2 IT firm in India". The Economic Times. 6 August 2012. Retrieved 11 September 2024.
  17. ^ Phadnis, Shilpa (25 April 2024). "Infy narrows revenue gap with Cognizant". The Times of India. Retrieved 11 September 2024.
  18. ^ Mishra, Bibhu Ranjan (7 August 2015). "Cognizant's strong shows raise bar for Indian IT services firms". Business Standard. Retrieved 11 September 2024.
  19. ^ Bardia, Jas (10 May 2024). "TCS' Krithivasan earns the lowest among top Indian IT CEOs". Mint. Retrieved 11 September 2024.
  20. ^ Choudhary, Lokesh (16 November 2022). "The Rise of Indian WITCH and the Fall of US FAANG". Analytics India Magazine. Retrieved 14 July 2024.
  21. ^ "TOP COMPANIES IN INDIA BY MARKET CAPITALISATION - BSE". Moneycontrol. Retrieved 13 July 2024.
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