Tata Consultancy Services Limited: The Pioneer in the Indian IT Industry
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"Many years ago, there was an industrial revolution. We (India) missed it due to (factors over) which we had no control. Today, there is a new revolution - a revolution in information technology, which requires neither mechanical bias nor mechanical temperament. Primarily, it requires the capability to think clearly. This we have in abundance. We have an opportunity even to assume leadership. If we miss this opportunity, those who will follow us will not forgive us for our tardiness and negligence." 1
- FC Kohli, Deputy Chairman of TCS.
"TCS' achievements are mainly due to the company's foresight in gaining expertise and experience in emerging technologies. TCS' ability to provide end-to-end solutions is another of its major strengths. We may not be visible, and we do not publicize our achievements but we are definitely leaders in the industry." 2
- Atul Takle, Vice-President, Corporate Communications, TCS.
In June 2003, Tata Consultancy Services (TCS) - the leading information technology (IT) company in India, reported revenues of Rs. 49.975 bn (US$ 1.04 bn)3 for the financial year ending March 31, 2003 (Refer Exhibit I and Exhibit II for the financials of TCS). This made TCS the first IT company in India to cross the $1 bn revenue mark.
By the time we got the approvals, the model of the computer would have changed. Then we had to explain to Indian customs officers that model numbers don't mean much, etc. But they would say, go back and get the license amended. On top of that, we had to pay 300 per cent import duties and give export commitments that were sometimes 250 per cent the value of the computers we were importing. Those were painful processes. Very few companies would have persisted through all of that."4
1] "The Kohli Touch", www.india-today.com, April 16-30, 2000.