Abhishek Sinha
For India’s IT services industry, the United States remains the single largest market, driving a significant portion of revenues for most players. From software development to IT outsourcing and digital transformation, American clients continue to be the backbone of India’s tech export story.
According to data shared by Sumit Mehrotra (@SumitResearch on X), here’s a list of Indian IT companies and the percentage of their revenues coming from the US market:
IT Companies – Share of Revenue from the US 🇺🇸
- Sagility – 100%
- Birlasoft – 86%
- Mphasis – 82%
- Persistent Systems – 79%
- LTIMindtree – 73%
- Zensar Technologies – 67%
- HCL Tech – 66%
- Firstsource Solutions (FSL) – 66%
- Wipro – 62%
- Infosys – 60%
- L&T Technology Services – 55%
- Tech Mahindra – 52%
- TCS – 51%
- Coforge – 50%
Key Insights
- Complete Dependence: Sagility stands out with 100% of its revenues from the US, making it entirely dependent on the American market.
- Heavy Reliance: Top-tier firms like Infosys, TCS, Wipro, HCL Tech, and Tech Mahindra continue to derive more than half of their revenues from the US, highlighting how critical the region is for India’s IT giants.
- Mid-Tier Strength: Companies like Persistent and Mphasis showcase strong business momentum in the US, reflecting the demand for niche services such as cloud, analytics, and digital solutions.
- Diversification Needs: While the US remains lucrative, high concentration also makes firms vulnerable to US regulatory changes, visa policies, and economic slowdowns.
The data reaffirms that the US is the cornerstone of India’s IT export industry, shaping the fortunes of both large-cap IT giants and mid-tier firms alike.
