By IANS
New Delhi : Exports from India's top 10 IT firms jumped 46 percent during the last fiscal to top $15 billion despite some adverse conditions like a strengthening rupee, says a new study.
The top three firms on the list – Tata Consultancy Services, Infosys and Wipro – accounted for $8.7 billion, with their revenues growing 38 percent, 45 percent and 39 percent, respectively, says the study by Dataquest magazine.
The other seven firms on the list were Satyam Computers, IBM, HCL Technologies, Cognizant, Oracle, Tech Mahendra and Patni.
"Almost all companies saw their share of revenues from Europe grow significantly in fiscal year 2007," said Prasanto K. Roy, chief editor of the magazine, while commenting on the study.
"Apart from being a faster growing market for off-shoring, the weakening dollar, too, has forced the software majors to de-risk by looking outside the US, and Europe is the next big market," Roy added.
"The weakening dollar and stronger rupee wasn't really felt by exporters until the later half of 2006-07," said Shyamanuja Das, analyst and executive editor of Dataquest.
"Contrary to popular perception, the average value of the dollar in rupees was higher in 2006-07 than in 2005-06," Das added.