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, while five of them are part of the NIFTY 50 benchmark index of most valuable publicly-listed companies.
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. Although Cognizant had shifted its headquarters from India to the United States, it continued to be grouped with the India-based IT companies since a large majority of Cognizant's employees were from India. [6] [1] [7] [8] [9] [10]
Following Satyam's liquidation and business transfer to Tech Mahindra, the group of companies became known as WITCH, [6] [11] [12] while several outlets started using TWITCH by replacing Satyam with Tech Mahindra. [13] [14] [15] Some definitions in the stock market context omit Cognizant from the grouping as it is not listed in India. [2] [16] Since 2022, mid-sized firm LTIMindtree has also been considered among these companies, albeit less frequently. [17]
Members
The table below includes all companies to have been included in the definition, sorted by market capitalization. [18]
| Rank | Company name | Market capitalization (July 2024) | Revenue (in the last fiscal year) |
|---|---|---|---|
| 1 | Tata Consultancy Services | ₹1,514,133 crore (US$180 billion) | ₹245,315 crore (US$29 billion) |
| 2 | Infosys | ₹710,827 crore (US$85 billion) | ₹158,381 crore (US$19 billion) |
| 3 | HCLTech | ₹423,440 crore (US$51 billion) | ₹111,408 crore (US$13 billion) |
| 4 | Cognizant | US$36 billion | US$19 billion |
| 5 | Wipro | ₹292,926 crore (US$35 billion) | ₹89,760 crore (US$11 billion) |
| 6 | LTIMindtree | ₹164,961 crore (US$20 billion) | ₹35,517 crore (US$4.3 billion) |
| 7 | Tech Mahindra | ₹147,205 crore (US$18 billion) | ₹52,912 crore (US$6.3 billion) |
See also
- Other "Big" industry terms:
- List of Indian IT companies
- Information technology in India
- List of largest employers in India
References
- ^ a b "Big 6 'Switch' to bigger deals, corner 2.4% of global work". The Economic Times. 13 June 2008. Retrieved 13 July 2024.
- ^ a b "Investors know better when to buy or sell stocks of Big Five IT firms". Mint. Retrieved 13 July 2024.
- ^ Fersht, Phil; Fleming, Reetika; O'Brien, Melissa (1 July 2016). "Tech Mahindra Becomes the New T in TWITCH". HFS Research. Retrieved 13 July 2024.
- ^ "The WITCH Report: 2020 Mid-Year Review". Damo Consulting. Retrieved 13 July 2024.
- ^ Choudhary, Lokesh (2 January 2023). "WITCH vs FAANG Saga to Continue in 2023". Analytics India Magazine. Retrieved 13 July 2024.
- ^ a b P. V., Harikrishnan (8 January 2009). "Satyam saga: SWITCH to WITCH to ITCH". OneIndia. Retrieved 13 July 2024.
- ^ Kripalani, Manjeet (19 February 2008). "India: Zero Hour for India's Tech Companies". Der Spiegel. Retrieved 13 July 2024.
- ^ "To beat crisis 'switch' firms switch terrain". The New Indian Express. 14 May 2012. Retrieved 13 July 2024.
- ^ "'Indian IT growth outpaces global biggies'". Business Standard. 27 September 2007. Retrieved 13 July 2024.
- ^ "Switching to Big League". Business Today. 3 October 2007. Retrieved 13 July 2024.
- ^ Joshi, Yugal; Dhingra, Ritika (31 July 2013). "Will Satyam's Itch "TWITCH" the "WITCH"?". Everest Group. Retrieved 14 July 2024.
- ^ Flinders, Karl (3 December 2013). "Where is Satyam now? Well, it's not Satyam for a start". Computer Weekly. Retrieved 13 July 2024.
- ^ "IT Services Exports : From SWITCH to TWITCH". DQ India. DataQuest. Retrieved 13 July 2024.
- ^ Philipose, Mobis (3 November 2017). "Indian IT's hiring freeze suggests weak demand will continue". Mint. Retrieved 14 July 2024.
- ^ "Mahindra Satyam is now Tech Mahindra: Welcome to the TWITCH". Forbes India. Retrieved 13 July 2024.
- ^ Choudhary, Lokesh (16 November 2022). "The Rise of Indian WITCH and the Fall of US FAANG". Analytics India Magazine. Retrieved 14 July 2024.
- ^ Dhanjal, Swaraj Singh (7 May 2022). "Mega merger: LTIMindtree to join the big league with scale and ambition". Business Standard. Retrieved 14 July 2024.
- ^ "TOP COMPANIES IN INDIA BY MARKET CAPITALISATION - BSE". Moneycontrol. Retrieved 13 July 2024.
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, while five of them are part of the NIFTY 50 benchmark index of most valuable publicly-listed companies.
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. Although Cognizant had shifted its headquarters from India to the United States, it continued to be grouped with the India-based IT companies since a large majority of Cognizant's employees were from India. [6] [1] [7] [8] [9] [10]
Following Satyam's liquidation and business transfer to Tech Mahindra, the group of companies became known as WITCH, [6] [11] [12] while several outlets started using TWITCH by replacing Satyam with Tech Mahindra. [13] [14] [15] Some definitions in the stock market context omit Cognizant from the grouping as it is not listed in India. [2] [16] Since 2022, mid-sized firm LTIMindtree has also been considered among these companies, albeit less frequently. [17]
Members
The table below includes all companies to have been included in the definition, sorted by market capitalization. [18]
| Rank | Company name | Market capitalization (July 2024) | Revenue (in the last fiscal year) |
|---|---|---|---|
| 1 | Tata Consultancy Services | ₹1,514,133 crore (US$180 billion) | ₹245,315 crore (US$29 billion) |
| 2 | Infosys | ₹710,827 crore (US$85 billion) | ₹158,381 crore (US$19 billion) |
| 3 | HCLTech | ₹423,440 crore (US$51 billion) | ₹111,408 crore (US$13 billion) |
| 4 | Cognizant | US$36 billion | US$19 billion |
| 5 | Wipro | ₹292,926 crore (US$35 billion) | ₹89,760 crore (US$11 billion) |
| 6 | LTIMindtree | ₹164,961 crore (US$20 billion) | ₹35,517 crore (US$4.3 billion) |
| 7 | Tech Mahindra | ₹147,205 crore (US$18 billion) | ₹52,912 crore (US$6.3 billion) |
See also
- Other "Big" industry terms:
- List of Indian IT companies
- Information technology in India
- List of largest employers in India
References
- ^ a b "Big 6 'Switch' to bigger deals, corner 2.4% of global work". The Economic Times. 13 June 2008. Retrieved 13 July 2024.
- ^ a b "Investors know better when to buy or sell stocks of Big Five IT firms". Mint. Retrieved 13 July 2024.
- ^ Fersht, Phil; Fleming, Reetika; O'Brien, Melissa (1 July 2016). "Tech Mahindra Becomes the New T in TWITCH". HFS Research. Retrieved 13 July 2024.
- ^ "The WITCH Report: 2020 Mid-Year Review". Damo Consulting. Retrieved 13 July 2024.
- ^ Choudhary, Lokesh (2 January 2023). "WITCH vs FAANG Saga to Continue in 2023". Analytics India Magazine. Retrieved 13 July 2024.
- ^ a b P. V., Harikrishnan (8 January 2009). "Satyam saga: SWITCH to WITCH to ITCH". OneIndia. Retrieved 13 July 2024.
- ^ Kripalani, Manjeet (19 February 2008). "India: Zero Hour for India's Tech Companies". Der Spiegel. Retrieved 13 July 2024.
- ^ "To beat crisis 'switch' firms switch terrain". The New Indian Express. 14 May 2012. Retrieved 13 July 2024.
- ^ "'Indian IT growth outpaces global biggies'". Business Standard. 27 September 2007. Retrieved 13 July 2024.
- ^ "Switching to Big League". Business Today. 3 October 2007. Retrieved 13 July 2024.
- ^ Joshi, Yugal; Dhingra, Ritika (31 July 2013). "Will Satyam's Itch "TWITCH" the "WITCH"?". Everest Group. Retrieved 14 July 2024.
- ^ Flinders, Karl (3 December 2013). "Where is Satyam now? Well, it's not Satyam for a start". Computer Weekly. Retrieved 13 July 2024.
- ^ "IT Services Exports : From SWITCH to TWITCH". DQ India. DataQuest. Retrieved 13 July 2024.
- ^ Philipose, Mobis (3 November 2017). "Indian IT's hiring freeze suggests weak demand will continue". Mint. Retrieved 14 July 2024.
- ^ "Mahindra Satyam is now Tech Mahindra: Welcome to the TWITCH". Forbes India. Retrieved 13 July 2024.
- ^ Choudhary, Lokesh (16 November 2022). "The Rise of Indian WITCH and the Fall of US FAANG". Analytics India Magazine. Retrieved 14 July 2024.
- ^ Dhanjal, Swaraj Singh (7 May 2022). "Mega merger: LTIMindtree to join the big league with scale and ambition". Business Standard. Retrieved 14 July 2024.
- ^ "TOP COMPANIES IN INDIA BY MARKET CAPITALISATION - BSE". Moneycontrol. Retrieved 13 July 2024.