Information Technology (IT) is one of the largest job providers in the organized job sector in India. The 156 billion dollar IT industry is the backbone of Indian economy and its exports sector. Indian IT companies provide software services across the globe and most of the foreign exchange in the country comes from through these companies. Tata Consultancy Service (TCS) is the flag bearer of this industry. Started in 1968, it is one of the largest multinationals in the world with operations in 46 countries. It is the largest Indian company by market capitalization with the capitalization amount over 100 billion. The company alone generates 70 percent of the dividends of the Tata group, popularly known as the ‘crown jewel of Tata’s.’
The company is rooted in Indian ethos since its initial days. It was started by Faqir Chand Kohli, popularly known as F. C. Kohli. He is called the father of the Indian software industry. Kohli comes from a Hindu Khatri family and he introduced the traditional Indian business culture in the working culture of TCS. The company built a strong academic connection for the training of its workers and Kohli prepared the courses of many institutes like Virmata Jijabai Technical Institute (VJTI) to train the students according to the needs of the industry. This was one of the earliest examples of industry-academia interaction in the country. Kohli has also advocated that the computers must start speaking in Indian languages in an interview with Economic Times.
TCS was registered at the Bombay Stock Exchange (BSE) in 2004. Today it is registered at both major stock exchanges- the BSE and National Stock Exchange (NSE) and its market capitalization is highest for any Indian company. Since its registration at the stock market on 25th August 2004, it has consistently posted profits and this is the reason that the investors’ trust in TCS is highest. The company has provided IT solutions to many government and private sector businesses in India. It designed an ERP system for the Indian Railway Catering and Tourism Corporation. It was awarded a six-year contract in 2013 worth over 1100 crores to provide IT solutions to the Department of Posts. The company was trusted for maintenance of Aadhar data which is the world’s largest biometric identity system. In India, the company established its centers to small cities like Patna, Indore, unlike other big companies which kept their operations confined to metro cities. People from TCS started many successful startups in the IT sector.
This year, the company is in its 50th year and employs more than four lakh employees across the globe. The company’s performance has been so exceptional that its previous CEO Natarajan Chandrasekaran was appointed the Chairman of Tata Sons. Tata Sons of which TCS is a part, has 29 publicly listed Tata enterprises with a combined market capitalization of about $151.62 billion as of March 1, 2018. It includes Tata Steel, Tata Motors, Jaguar Land Rover with its marques Jaguar and Land Rover, Tata Consultancy Services, Tata Power, Tata Chemicals, Tata Global Beverages, Tata Coffee, Tata Teleservices, Titan, Tata Communications, and The Indian Hotels Company Limited (Taj Hotels). The Tata group is known as the humane face of the industry due to their large scale donations to academia and social causes. This is very much in line with the ancient Indian practice of generation of wealth and then giving it back for the welfare of society. Businessmen in ancient India used to open Dharamshala for staying of travelers and many other things for the welfare of poor people. TCS is a true representative of ancient Indian practices of business and wealth creation.