Indian IT industry records 19-% growth in FY11
12 Sep 2011
The Indian IT industry recorded a strong 19-per cent growth in financial year 2011 (2010-11), recording total revenues of Rs438,296 crore ($96.1 billion).
The growth is a significant bounce-back for the industry which recorded just 8 per cent growth in 2009-10 due to the global recession in 2009 and 2010.
The recession had resulted in companies cutting back on IT spending, according to a study by industry journal Dataquest, the flagship publication of CyberMedia.
The US dollar growth was even better at 24 per cent, taking the industry to just short of the $100 billion mark, it said.
Hewlett Packard India was the largest IT player in the domestic market, while India largest software firm Tata Consultancy Services was the largest exporter from India, as also the largest company across all categories.
The Top 7 IT companies with over Rs 10,000 crore in revenues were TCS (Rs29,801 crore), Infosys (Rs25,477 crore), Cognizant (Rs21,393 crore), Wipro (Rs19,421 crore), Hewlett-Packard (Rs 19,022 crore), HCL Technologies (Rs13,264 crore) and HCL Infosystems (Rs11,773 crore).
