TCS is aiming to become the world’s largest IT company
Mumbai:
India’s largest software exporter TCS on Friday said it aims to become the world’s top IT services company, saying it is not “afraid” that its large-scale operations are hampering the firm’s ambitions.
Speaking at a business conclave, Rajesh Gopinathan, chief executive and managing director of TCS, said there is no reason why the company should aspire to double, triple or quadruple revenues from current levels.
The company has revenues of $25 billion and has 6 million employees on its payroll.
“Of course, in many ways we already are,” Mr. Gopinathan said without taking any time, answering a question whether he sees TCS becoming the largest IT company in the world.
He added that the company, which is the largest IT services provider in banking, financial services and insurance sector, comes second in number of employees and has also topped the global market capitalization table.
“Today we are $25 billion in size. There are many companies that are $50, $100 billion in size. There’s no reason why we shouldn’t aspire to be double, triple, quadruple the size we are today. The question is How do we go about it, what should we do for it? But the opportunity is limitless. We are sitting at a sweet spot on both the demand and supply side,” he said.
Mr. Gopinathan said, “Our aspiration should in no way be limited to where we are today, we should aspire to set new standards and we are far from where the present standards are. (there) now There is also a lot of room to move forward.” added.
The TCS chief’s comments assume significance as it means the Tata group will displace Accenture, which reported revenues of over $50 billion last year. A few weeks ago, TCS said it was aiming to reach $50 billion in revenue by 2030.
Mr. Gopinathan said that in 2001, the company had aimed to enter the top-10 in the world on several parameters and adopted a distinctive approach of working towards the goal.
Acknowledging that every time the scale limit is broken, the company is suspected to be very large, Mr. Gopinathan pointed out that companies in the supply chain or logistics and consumer packaged goods segments have been able to improve their performance.