New Delhi August 22 2012: The authoritative annual rankings of top India-based IT companies – Dataquest magazine’s DQ Top 20 -- finds virtually the same players heading the list this year ( 2011-120 -- albeit with a few minor switches of position. There are only two surprises: Samsung India joining the Top 20 club at 17, from # 31 last year and iGate crashing in at # 20 from # 63 last year. The Top 3 TCS, Infosys and Wipro retain their positions from 2010-11 while Cognizant, last year’s # 5 just edges past HP to make # 4 this year. Similarly HCL takes position # 6, ahead of IBM India.
While the top players experienced a revenue growth of 18% to 32%, the picture is gloomier down the list except for iGate’s spectacular 295% thanks to integrating the numbers from the Patni acquisition. Ironically iGate decided to dump the Patni name a few weeks ago. Samsung too saw 165% growth thanks to its twin asthras – phones and tablets.
Comments Dataquest Editor Ed Nair in his column: The study reveals that the domestic market experienced a marked slowdown. Compared to growth of 26% in 2010- 11, the Top 20 companies who serve the domestic market grew by 18% during 2011-12. In a domestic market of nearly `150,000 crore ($31 bn) as of 2010-11, the decline is worth `12,000 crore ($2.4 bn), which is significant.
One of the biggest reasons) is attributed to government and public sector units. These segments were sluggish in buying technology. Many of the private sector enterprises did not go in for a technology refresh phase, but stuck to incremental buying.
Telecom sector, one of the large buying segments, had its own woes to tackle and their priorities centered on consolidation..
Circumscribing this situation was the general environment of policy paralysis and macroeconomic factors that pulled the economy into slowdown. http://www.dqindia.com/dataquestdataquest/column/2937/gear-up-growth