MUMBAI: Tata Consultancy Services
(TCS) has become the world's ninth-largest software services company in terms of
revenues, its chairman, Ratan Tata, told shareholders at the company's fifth
annual general meeting on Friday. The big daddies in the global IT industry
include IBM with revenues of $96 billion, Microsoft ($58 billion) and Accenture
($22 billion).
For the $6.3 billion-TCS, the focus now "would be to
climb the value chain in a bid to differentiate its services from competition,"
said Tata, who would step down from the chairmanship of the IT major in the next
couple of years. Several shareholders wanted to know how long Tata, who stood
for re-appointment as director on the board of TCS, would continue as chairman.
They suggested that like several other industrialists in India Inc, he should
continue on the board as long as possible. Tata told shareholders: "As far as I
am concerned, I won't sit here as ex-chairman."
TCS was started as a
division of Tata Sons, the holding company of the Tata group, in 1968 to service
the in-house electronic data processing needs. The company today is the largest
software services firm in the country. In a bid to be part of the top league,
the company has been bagging clients across geographies, building domain
expertise, besides adding on a large number of employees.
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