It's advantage for Indian companies like Infosys, Wipro and Tata Consultancy Services on the country's information technology services arena over their global peers including the giants like IBM and Accenture as far as revenue and profit growth are concerned, a recent study shows.
According to a report from global research firm Forrester analysing the performance of global IT vendors and their Indian counterparts, the Tier-I Indian providers have continued to thrive while major global players are continuing to lose ground.
Forrester Research vice president Stephanie Moore said that many global service providers are continuing to lose ground to large Indian firms, especially in the application services market.
While most legacy service providers worldwide have posted minimal to negative growth in the recent past, companies like Infosys, TCS and Wipro have all reported outstanding revenue and profit growth for their latest quarters, she added.
Forrester said Indian providers are clearly outsmarting global majors in terms of growth and profits, while global majors are struggling to compete in the more efficient and transparent world of IT service provisioning created by the Indian vendors.
Forrester Research's India head and senior analyst Sudin Apte said, "To move up the value chain, top Indian vendors are working successfully towards penetrating the global market for high-end services."While Indian firms are challenged by linear revenue growth linked with labour growth, they are trying their best to break direct connection between the two, Apte added.