Forex

After three years of strong growth, top 20 IT companies in India, a majority of them engaged in IT services exports, recorded a revenue growth of 24 per cent in 2007-08, recording a sharp drop from 41 per cent in the previous financial year, according to a survey.

The top 20 IT services exporters recorded a growth of 29 per cent compared to 45 per cent in 2006-07, findings of the CyberMedia's Dataquest Indian IT Industry survey 2008 revealed.

These top 20 domestic IT players recorded 27 per cent growth against 31 per cent last year. Three foreign multinationals - Accenture, SAP and Dell--entered the list.

A stronger Rupee adversely impacted the exports-heavy Indian IT industry in FY 08 when the average value of the Rupee in comparison to the Dollar rose nine per cent, with a vast majority of IT companies still unfazed by a slowdown in the global outsourcing industry.

In the listing of the Top 20 IT companies from India, the top seven positions remained unchanged, with TCS, Wipro, Infosys, HP India, IBM India, Ingram Micro and Satyam Computer Services retaining their positions, from number one through number seven.

HP India and Ingram Micro derive a major part of their revenues from the sale of computer systems and peripherals, while the others make money from exports of software services; IBM India has significant services--domestic and exports--revenue, as well as systems sales.