(T.E.T)
Tata Consultancy Services (TCS) NSE -2.60 %) has become the second most valuable brand in the IT services sector globally, while Infosys NSE -1.85 % and four other Indian tech majors have firmly established their position among the top 25 IT services brands tally, according to Brand Finance. Following TCS and Infosys (third spot), there are four more Indian brands now firmly establish . Following TCS and Infosys (third spot), there are four more Indian brands now firmly established among the global elite – Wipro (7th), HCL (8th), Tech Mahindra (15th) and LTI (22nd), as per the Brand Finance IT Services 25 2022 report. All six Indian brands feature among the top 10 fastest-growing IT Services brands over the course of 2020-2022, the brand valuation firm added. Accenture retained the title of world’s most valuable and strongest IT services brand, boasting record brand value of USD 36.2 billion, as per the report.
Indian IT services brands made a leap with average growth from 2020 to 2022 at 51 per cent, compared to a seven per cent drop for brands from the US. A global turn to remote working for professional services and an accelerated digitalisation trend across the global economy have facilitated expansion of IT services hubs within India. TCS – in a regulatory filing said – this growth is attributed to the company’s investments in its brand and its employees, customer equity and strong financial performance. Strong revenue growth in 2021, saw TCS cross an important milestone, hitting USD 25 billion in revenue for the first time, with an industry-leading operating profit margin of over 25 per cent.
