India’s four leading IT software services companies — TCS, Infosys, HCL and Wipro, figure in the list of top-10 global IT services firms, according to a report by Brand Finance.
India’s leading software services exporter Tata Consultancy Services (TCS) has been ranked the third most-valued IT services brand globally, after tech giants Accenture and IBM. "Third-ranked TCS is rapidly closing the gap with IBM following a healthy 11 per cent increase in brand value to USD 15 billion," the report by Brand Finance stated.
Accenture retained the title of world's most valuable and strongest IT services brand with record brand value of USD 26 billion, while IBM continued at the second place with brand value of USD 16.1 billion.
The report also noted that Infosys has overtaken Cognizant at the fourth spot, following a 19 per cent brand value increase to USD 8.4 billion. The Bengaluru-based company has entered the "Big 4 of IT services brands globally, making it the fastest growing brand in the top 10", it added.
HCL was at the seventh spot, while Wipro was ranked 9th in the list.
Tech Mahindra saw 11 per cent brand value growth to USD 2.3 billion that has enabled the brand to jump to the 15th spot in this year's ranking.
Another Indian company L&T Infotech (LTI) was named as the sector's fastest growing with 37 per cent brand value growth to USD 982 million while being ranked 21 by the report.
The report said 'Brand value' refers to the present value of earnings specifically related to brand reputation.