Share of IT software and services export revenue in India FY 2023, by region
In financial year 2023, the United States was estimated to remain the biggest importer of India’s IT software and services industry, with an export revenue share of 55 percent. With a much smaller share of 14 percent, the United Kingdom maintained its second position.
Economics of the IT-BPM market
The Indian information technology/business process management (IT-BPM) industry is one of the largest growing industries in the Global South. The IT and BPM industry, through business and technical expertise, deals in computer programming activities, computer service activities, and IT services such as cloud services and network security. Out of all Indian economic sectors, close to 50 percent of India’s GDP was generated by the service sector, which comprises IT services and telecommunication. In 2024, the amount of spending in the information technology sector was estimated to reach 124.6 billion U.S. dollars, including various segments such as communication services, devices, data center systems, and software.
Overview of Tata Consultancy Services (TCS)
Tata Consultancy Services (TCS), headquartered in Mumbai, is one of the oldest IT companies, which is known for business solutions and IT services. TCS, a subsidiary of Tata Group, is an Indian multinational information and technology company. In June 2024, based on net sales of IT services and consulting companies in India, with about two trillion Indian rupees, TCS was the leading information technology services and consulting company. The multinational company functions across 46 countries and recorded over 602 thousand employees in 2023.
