Word: wipro
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There is none--but one may soon be needed. That's because India, which virtually invented offshore outsourcing, is becoming a victim of its own success. Such companies as Infosys, Wipro and Tata Consultancy Services (TCS) grew into billion-dollar behemoths by tapping armies of quick-coding, English-speaking, low-wage techies to do the software programming and back-office tasks that U.S. companies used to perform in-house. But Indian salaries are rising--the median annual wage for a software engineer jumped 11%, from $6,313 in 2004 to $7,010 in 2005, according to India's National Association...
...traffic one-way. Indian companies are now expanding abroad. The Tata Group, the country's largest conglomerate, recently announced huge investments in South Korea, and its Taj hotel chain has just taken over New York City's tony Pierre Hotel; software giants such as Infosys and Wipro are scouting for acquisitions abroad. Then there's the cultural dimension to the new confidence. Three Indian restaurants in London now have Michelin stars; Bollywood is suddenly fashionable; and remixes of Hindi film songs play in Europe's trendiest clubs. In some ways, Lakshmi Mittal is the symbol of the new Indian confidence...
...year-old junior executive at Wipro Technologies, an Indian tech-services company, when, in 2001, the marketing director suddenly left. So she marched into the CEO's office and asked for the job. "I was a nobody," says Sangita Singh. Rebuffed, she returned 10 days later with a detailed pitch and got the job. Last month Wipro put her in charge of its Enterprise Application Services business, a key post as the company competes with IBM and Accenture for higher-value consulting work. With margins shrinking in IT outsourcing, this shift is critical. Singh must convince clients, 60% of them...
...growing amount of confidence and growing resources among these firms," says Joe Sigelman, co-CEO of OfficeTiger, which will reach $100 million in sales this year and may go public in 2006. Strong, small firms will swallow others to solidify their positions against Indian outsourcing giants like Wipro and Infosys, says Peter Bender-Samuel, CEO of Everest Group, a research firm. U.S. players like Accenture and IBM Global Services, meanwhile, have a new kind of competitor to worry about, Bender-Samuel says. "It makes life difficult for them." --By Jyoti Thottam
...more like Shanghai. This combination of envy and fear seems most intense in the one place where it has the least reason to exist: Bangalore. India's software companies and call centers, after all, have a huge head start on China. Yet last week, Azim Premji, the chairman of Wipro, one of India's biggest tech companies, warned that the Chinese could start to close this gap in the outsourcing sector once they have mastered English...