Tata Consultancy Services Explained

Tata Consultancy Services
Logo Alt:TCS Logo
Image Alt:TCS SIPCOT Office
Type:Public
Services:
Founder:J. R. D. Tata
Area Served:Worldwide
Key People:Natarajan Chandrasekaran
(Chairman)
K. Krithivasan[1]
(CEO)
Revenue: [2]
Revenue Year:2024
Income Year:2024
Net Income Year:2024
Assets: [3]
Assets Year:2024
Equity Year:2024
Num Employees:601,546[4]
Num Employees Year:March 2024
Parent:Tata Group
Location:Mumbai, India
Footnotes:[5] [6]

Tata Consultancy Services (TCS) is an Indian multinational corporation specializing in information technology services, consulting, and business process outsourcing. Headquartered in Mumbai, it is a part of the Tata Group and operates in 150 locations across 46 countries.[7] TCS is the second-largest Indian company by market capitalization.

As of 2024, TCS is ranked seventh on the Fortune India 500 list.[8] In September 2021, TCS recorded a market capitalization of US$200 billion, making it the first Indian IT company to achieve this valuation.[9] [10] [11] [12] [13] In 2012, it was the world's second-largest user of U.S. H-1B visas.[14]

In 2016–2017, parent company Tata Sons owned 72.05% of TCS,[15] and more than 70% of Tata Sons' dividends were generated by TCS.[16]

History

1968–2005

Tata Consultancy Services Limited, originally known as Tata Computer Systems, was established in 1968 by Tata Sons Limited.[17] The company's initial contracts involved providing punched card services to its sister company TISCO (now Tata Steel), developing an Inter-Branch Reconciliation System for the Central Bank of India,[18] and offering bureau services to the Unit Trust of India.

In 1975, TCS implemented an electronic depository and trading system named SECOM for Swiss company SIS SegaInterSettle. It also developed System X for the Canadian Depository System and automated the Johannesburg Stock Exchange.[19] TCS also partnered with the Swiss firm TKS Teknosoft, which it later acquired.[20]

In 1980, TCS established India's first dedicated software research and development center, the Tata Research Development and Design Centre (TRDDC), located in Pune.[21] The following year, in 1981, it created India's first client-dedicated offshore development centre, established for Tandem.

Anticipating the Y2K bug and the introduction of the unified European currency (Euro), Tata Consultancy Services developed a factory model for Y2K conversion. The company also created software tools to automate the conversion process and facilitate implementation by third-party developers and clients.[22] In late 1999, TCS introduced Decision Support System (DSS) solutions to the domestic market under the leadership of Corporate Vice President and Transformation Head Subbu Iyer.[23] In 1999, the company also registered its first tagline, "Beyond the Obvious."[24] [25]

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2005 to 2016

On 25 August 2004, TCS became a publicly listed company.[26] [27]

In 2005, TCS became the first India-based IT services company to enter the bioinformatics market,[28] and in the same year, it changed its tagline from "Beyond the Obvious" to "Experience Certainty".[29] In 2006, TCS developed an ERP system for the Indian Railway Catering and Tourism Corporation.[30] By 2008, its e-business operations were generating over US$500 million in annual revenue.[31] [32]

In 2011, TCS entered the small and medium enterprises market with cloud-based solutions.[33] On the final trading day of 2011, it surpassed RIL to achieve the highest market capitalization of any India-based company.[34] In the 2011–12 fiscal year, TCS achieved annual revenues exceeding US$10 billion for the first time.[35]

In May 2013, TCS was awarded a six-year contract valued at over to provide services to the Indian Department of Posts.[36] In 2013, the company moved from 13th to 10th place in the League of top 10 global IT services companies.[37] In July 2014, it became the first Indian company to exceed in market capitalization.[38] [39]

In January 2015, TCS ended Reliance Industries Limited's 23-year dominance as India's most profitable company.[40]

2017 to Present

In January 2017, TCS announced a partnership with Aurus, a payments technology company, to deliver payment solutions for retailers through TCS OmniStore, a pioneering unified store commerce platform.[41] The same year, TCS China entered into a joint venture with the Chinese government.[42]

In March 2018, Tata Sons sold TCS shares worth $1.25 billion in a bulk transaction.[43]

In 2019, TCS received four Stevies at the American Business Awards.[44]

On 8 October 2020, TCS surpassed Accenture in market capitalization, becoming the world's most valuable IT company with a market cap of $144.73 billion.[45] On 25 January 2021, TCS briefly reclaimed the title of the world's most valuable IT company from Accenture with a market cap of $170 billion.[46] On the same day, TCS also became India's most valuable company, surpassing Reliance Industries with a market capitalization of .[47] In 2021, Tata Consultancy Services was also one of the largest job providers in India, hiring 43,000 new employees in the first half of FY22.[48] In October 2021, N. Ganapathy Subramaniam, the COO of TCS, announced that its platforms and products business is valued at approximately $3 billion.[49] This business includes TCS's SaaS-based platforms, and Subramaniam noted that 95% of the deals won by TCS between October 2020 and October 2021 were for its cloud and SaaS platforms.[49] Additionally, in 2021, TCS underwent a millennial rebranding. Under the guidance of Rajashree R., TCS Chief Marketing Officer (CMO), the company updated its tagline from "Experience Certainty" to "Building on Belief".[50]

In May 2021, TCS, in collaboration with its consortium partner Neurotechnology, was selected by the Unique Identification Authority of India (UIDAI) to provide biometric technology for the Aadhaar digital ID program.[51] The Aadhaar program, which has a database of over 1.3 billion citizens, has been described by World Bank Chief Economist Paul Romer as the "most sophisticated ID program in the world."[52]

In October 2021, TCS's platform and product business, which includes SaaS-based platforms, was valued at approximately $3 billion according to N. Ganapathy Subramaniam, TCS's COO. He also noted that 95% of the deals won by TCS between October 2020 and October 2021 were for its cloud and SaaS platforms.

Additionally, TCS underwent a rebranding in 2021. Under the direction of Rajashree R., TCS Chief Marketing Officer (CMO), the company's tagline was updated from "Experience Certainty" to "Building on Belief".[53]

In May 2021, TCS, in collaboration with its consortium partner Neurotechnology, was selected by the Unique Identification Authority of India (UIDAI) to provide biometric technology for the Aadhaar digital ID program.[54] The Aadhaar program, which maintains a database of over 1.3 billion citizens, has been described by World Bank Chief Economist Paul Romer as the "most sophisticated ID program in the world."[55]

Products and Services

Tata Consultancy Services (TCS) offers a wide range of products and services designed to address various business and technology needs. Key offerings include:

IT Services: TCS provides IT services including software development, systems integration, and IT consulting. These services support business operations through custom application development, systems integration, and strategic technology guidance.[56]

Business Process Outsourcing (BPO):TCS offers Business Process Outsourcing (BPO) services that involve managing and executing business processes such as finance and accounting, human resources, and customer service operations.[57]

Cloud Computing:TCS delivers cloud computing services including infrastructure as a service (IaaS), platform as a service (PaaS), and software as a service (SaaS). These services help organizations manage IT resources and applications flexibly.[58]

Digital Transformation:TCS supports digital transformation with technologies such as artificial intelligence (AI), machine learning (ML), and the Internet of Things (IoT). These solutions assist organizations in modernizing their operations and enhancing customer engagement.[59]

Enterprise Solutions:TCS offers enterprise solutions including enterprise resource planning (ERP), customer relationship management (CRM), and business intelligence (BI) systems. These solutions aim to optimize business processes and support decision-making.[60]

Cybersecurity Services:TCS provides cybersecurity services to protect organizations from digital threats, including threat detection, vulnerability management, and incident response.[61]

Consulting Services:TCS’s consulting services offer expertise in business strategy, operations improvement, and technology management to address complex challenges and optimize operations.[62]

Acquisitions

data-sort-type="text"Namedata-sort-type="date"Acquisition datedata-sort-type="text"Activitiesdata-sort-type="text"Country of HQdata-sort-type="currency"Pricedata-sort-type="number"Employees
(at acquisition)		DescriptionSources
CMC LimitedOctober 2001IT ServicesIndia$33.9m3,102Gets embedded expertise & good domestic customer reach. CMC amalgamated with TCS on 28 April 2015.[63] [64] [65] [66]
Airline Financial Support Services India (AFSI)January 2004BPOIndia$5.1m400BPO expertise in Airline and Hospitality sector.[67] [68]
Aviation Software Development Consultancy India (ASDC)March 2004IT ServicesIndia$3.1m180
Phoenix Global SolutionsMay 2004Business Process OutsourcingIndia$130m400Acquire expertise in insurance-domain consulting.[69] [70]
Swedish Indian IT Resources AB (SITAR)May 2005IT ServicesSweden$4.8mn/aAcquire blue-chip European customers like Ericsson, IKEA, Vattenfall, and Hutchison; SITAR was TCS’ exclusive partner in Sweden and a non-exclusive partner in Norway.[71] [72]
Pearl GroupOctober 2005InsuranceUnited Kingdom$94.7m950Acquired life and pension outsourcing business from Pearl Group; domain knowledge of life and pension underwriting business.[73] [74]
Financial Network Services (FNS)October 2005Core Banking ProductAustralia $26m190TCS acquired core banking solution product (BANCS) and access to 116 customers in 35 countries; FNS was an existing partner for TCS.[75] [76]
ComicromNovember 2005Banking BPOChile$23m1,257Entry into Latin America; access to payment processing platform.[77] [78]
Tata InfotechFebruary 2006IT ServicesIndia$259.2m3,600The merger of Tata Infotech added 15 new Fortune 500 clients.[79] [80]
TCS ManagementNovember 2006IT ServicesAustralia $13m35Access to Australian clients.[81] [82]
TKS-TeknosoftNovember 2006Banking ProductChile$80.4m115Expand product portfolio by acquiring rights to Quartz and ownership of Alpha and e-portfolio, enhanced presence in Switzerland and France.[83]
Citigroup Global Services LimitedDecember 2008Captive BPO of Citigroup Inc.India$512m12,472TCS acquired key Banking and Financial Services (BFS) domain knowledge.[84] [85]
Supervalu Services IndiaSeptember 2010Captive IT/BPO unit of Supervalu Inc. in IndiaIndia$100m600TCS had a deal with Supervalu to have their software outsourcing to TCS and acquired Supervalu India.[86]
Computational Research LaboratoriesAugust 2012High Performance ComputingIndia$34m80Acquire expertise in High Performance Computing (HPC) applications and Cloud services.[87] [88]
Alti SAApril 2013IT ServicesFrance$97.5m1200Access to blue-chip French and European clients in banking, luxury, manufacturing, and utility sectors.[89]
BridgePoint GroupNovember 2018Management consultingUnited StatesAcquire expertise in US retirement services.[90] [91] [92]
Postbank SystemsNovember 2020IT ServicesGermanyAcquire expertise in the Banking and Financial Services (BFS) domain. Deutsche Bank restructures itself and sold its IT-subsidiary to TCS, which had already been their partner in IT services. [93]
Pramerica Systems IrelandDecember 2020IT ServicesIreland1500Prudential Financial sold its Irish subsidiary to TCS. Acquires expertise in the Banking and Financial Services (BFS) domain and established Global delivery center in Ireland.[94]

Operations

As of September 2023, TCS had a total of 51 subsidiary companies and operated in 55 countries.[95] [96]

Locations

Tata Consultancy Services (TCS) operates from a broad network of locations worldwide. As of 2024, the company has a presence in over 50 countries and operates more than 500 offices globally.[97] In India, TCS has multiple delivery centers in major cities, including Mumbai, Bangalore, Chennai, and Hyderabad.[98] Internationally, it has significant operations in key markets such as the United States, United Kingdom, Canada, Australia, and Singapore.[99] This extensive geographical footprint allows TCS to effectively serve a diverse client base and utilize global talent.[100]

TCS BPS

TCS BPS (Business Process Services) is the third-largest India-based IT outsourcing company (after Capgemini).[101] The BPS division had revenues of US$1.44 billion in FY 201213, which was 12.5% of the total revenue of TCS.[102] [103] TCS BPS has more than 45,000 employees who serve over 225 million customers across 11 countries. The rate of attrition in the BPS division during the financial year 201213 was 19.5%.[104] The firm has also opened a business process outsourcing facility in the Philippines.[105]

Life Sciences and Healthcare

Since 2006 TCS signed multi million contracts from american biopharma giants Pfizer, Eli Lilly etc for providing clinical research-data management, biostatistics, and medical writing services.[106] [107] [108] TCS also provides services to european biopharma giants such as Roche, Novartis etc in the areas of clinical data management, biostatistics, clinical programming, pharmacovigilance, and RWE support towards global drug development efforts.[109] [110] [111]

Tata Research Development and Design Centre

See main article: Tata Research Development and Design Centre.

TCS established India's first software research centre, the Tata Research Development and Design Centre, in Pune, in 1981. TRDDC undertakes research in software engineering, process engineering, bioinformatics, and systems research. Researchers at TRDDC also developed MasterCraft (now a suite of digitization and optimization tools),[112] a Model-driven Development software that can automatically create codes based on a model of a software, and rewrite the codes based on the users' needs.[113] The research at TRDDC has also resulted in the development of Sujal, a low-cost water purifier, that can be manufactured using locally available resources. TCS deployed thousands of these filters in the Indian Ocean tsunami disaster of 2004 as part of its relief activities.[114] This product has been marketed in India as Tata Swach, a low-cost water purifier.[115]

Innovation labs

In 2007, TCS launched its co-innovation network, a network of innovation labs, start-up alliances, university research departments, and venture capitalists.[116] [117] In addition, TCS has 19 innovation labs based in three countries.[118] TCS' partners include Collabnet and Cassatt, and academic institutions such as IITs, Stanford, MIT, and Carnegie Mellon, and venture capitalists like Sequoia and Kleiner Perkins.[119]

Employees

Tata Consultancy Services (TCS) is one of the largest private-sector employers in India,[120] and ranks as the fourth-largest employer among listed Indian companies, following Indian Railways, Indian Army, and India Post.[121] As of 8 July 2022, TCS had over 600,000 employees.[122] [123] [124] [125] [126] As of 31 March 2013, the number of non-Indian nationals employed by TCS was 21,282, representing 7.7% of the workforce.[127]

For the fiscal year 2012–13, TCS's employee costs amounted to US$4.38 billion, which constituted approximately 38% of the company's total revenue for that period.[128] During the same fiscal year, TCS recruited 69,728 new staff members, with 59,276 based in India and 10,452 located elsewhere. The employee attrition rate for that period was 10.6%, and the average age of a TCS employee is 28 years. The employee utilization rate, excluding trainees, for the fiscal year 2012–13 was 82%.

In 2008, TCS was the fifth-largest recipient of H-1B visas in the United States, following Infosys, CTS, Wipro, and Mahindra Satyam.[129] [130] [131] In 2012, TCS and other Tata Group companies were the second-largest recipients of H-1B visas.[132]

Subramaniam Ramadorai, the former CEO of TCS, authored an autobiographical book titled The TCS Story...and Beyond about his experiences with the company.[133]

Former CEOs of TCS

Sponsorships

TCS is the title sponsor for Toronto Waterfront Marathon, London Marathon, Amsterdam Marathon, Mumbai Marathon, Lidingöloppet, and New York City Marathon[135] [136] and one of the sponsors of City2Surf, Australian Running Festival, Berlin Marathon, Chicago Marathon, and Boston Marathon.[137] In India, it is the title sponsor of World 10K held in Bangalore every year.[138] TCS has been a sponsor of the Indian Premier League team Rajasthan Royals since 2009.[139] It also provides the team with technology to help in the analysis of player performance, simulation, and use of RFID tags for tracking the players’ fitness levels and for security purposes in the stadiums.[140] [141] TCS sponsors an annual IT quiz for high school students called TCS IT Wiz.[142] TCS IT Wiz is the largest quiz in India, attracting students who are studying between class 8 and class 12. This quiz is hosted by Giri Balasubramanium.

TCS also currently sponsors Jaguar Racing in Formula E and Nakajima Racing in Super Formula.

Controversies

Class Action Lawsuit in the US

On 14 February 2006, the US law firm Lieff Cabraser filed a nationwide class action lawsuit against Tata.[143] In July 2013, Judge Claudia Wilken of the US District Court, Northern District of California in Oakland, California, granted final approval for the settlement of the lawsuit. This settlement was on behalf of all non-US citizens employed by TCS in California from 14 February 2002 to 30 June 2005. The workers alleged that they were compelled to forfeit their federal and state tax refunds to their employer and that their Indian salaries were wrongfully deducted from their US pay.[144]

On 22 February 2013, Tata agreed to settle the class-action suit for, concerning payments to employees on deputation.

Trade Secret Lawsuit

A US grand jury imposed a US$940 million fine on two companies of India's Tata Group—Tata Consultancy Services and Tata America International Corp—in a trade secret lawsuit. Epic Systems accused TCS and Tata America International Corp of "brazenly stealing the trade secrets, confidential information, documents, and data" belonging to Epic in a lawsuit filed in October 2014 in the US District Court in Madison. This lawsuit was amended in January and December 2015.[145] The case concluded in November 2023, with TCS agreeing to pay US$125 million.[146]

Sexual Harassment Allegations

In 2019, an employee filed a complaint with the Kancheepuram labour court,[147] alleging that Tata Consultancy Services' internal complaints committee mishandled[148] a sexual harassment case. Despite the case being approved, there has been no significant progress over the years, with the worker accusing the company of delaying investigations.[149] The worker has also reported unexplained transfers[150] and other forms of alleged workplace retribution, including in performance reviews.[151]

Technical Issues with Oxford University Exams

On 20 October 2023, Tata failed to deliver digital exams for candidates applying to the University of Oxford. Reports suggest that inadequate preparation led to a technical glitch, causing delays of over two hours and, in some cases, a complete cancellation of the exams.[152] [153]

See also

Notes and References

  1. Web site: TCS CEO Krithivasan's Compensation: Big Payday, But Not a Record Breaker . Bru Times News . en.
  2. Web site: Tata Consultancy Services Consolidated Profit & Loss account, Tata Consultancy Services Financial Statement & Accounts. www.tcs.com.
  3. Web site: Tata Consultancy Services Consolidated Balance Sheet, Tata Consultancy Services Financial Statement & Accounts. 12 April 2024. www.tcs.com.
  4. News: TCS reports dip in Q4 hiring. 12 April 2024.
  5. Web site: Press Release - USD . Tata Consultancy Services . 12 April 2019 . 13 April 2019.
  6. News: Chandrashekhar . Anandi . TCS management takes home smaller pay packets due to COVID-19 impact . The Economic Times . 22 May 2020.
  7. Web site: Company Profile. Tata Consultancy Services. 16 August 2024.
  8. Web site: Tata Consultancy Services - Fortune 500 List 2024 - Fortune India. www.fortuneindia.com. 16 August 2024.
  9. News: TCS 2nd Indian company to hit $200 billion mcap after RIL. . 16 September 2021 .
  10. Web site: TCS Market Capitalization Hits $200 Billion As Shares Jump To Fresh Highs. 15 September 2021 .
  11. News: TCS first Indian tech company to cross $200 billion market cap. The Economic Times . 15 September 2021. Krishnan . Raghu .
  12. Web site: Top 100 stocks by Market Capitalization BSE Listed stocks Market Capitalization . 2022-12-19 . www.bseindia.com.
  13. Web site: Top 100 stocks by Market Capitalization BSE Listed stocks Market Capitalization . 2023-11-21 . mock.bseindia.com.
  14. Web site: The data shows: Top H-1B users are offshore outsourcers . ComputerWorld . 14 February 2013 . 8 September 2013.
  15. Web site: Ishaat Hussain to Replace Cyrus Mistry as Chairman of Tata Consultancy Services . News18.com . 10 November 2016 . 8 October 2018 . https://web.archive.org/web/20181129132552/https://www.news18.com/news/business/ishaat-hussain-appointed-chairman-of-tata-consultancy-services-1310369.html . 29 November 2018 . live .
  16. Web site: TCS has also accounted for at least 70% of Tata Sons dividends in the past three years, which would have worked in Chandrasekaran's favour . 13 January 2017 . 8 October 2018 .
  17. Web site: Corporate Facts . TCS . 3 September 2013.
  18. Web site: Tata Consultancy Services Limited: The Pioneer in the Indian IT Industry . Case Study . ICMR . 1 January 1990 . 8 September 2013.
  19. Web site: Indian software keeps Swiss securities safe . https://archive.today/20120912080537/http://www.swissinfo.ch/eng/archive.html?siteSect=883&sid=957178&ty=st . dead . 12 September 2012 . Swissinfo.com . 14 January 2002.
  20. Web site: TCS acquires TKS Teknosoft . The Financial Express . 11 January 2006.
  21. Kanavi . Shivanand . Megasoft . Business India . 46–54 . 20 June 2004.
  22. Web site: IT Man of the Year: Standing Tall . https://web.archive.org/web/20080128103009/http://dqindia.ciol.com/content/top_stories/2004/104122201.asp . dead . 28 January 2008 . Cover Story . Dataquest India . 22 December 2004.
  23. Web site: Financial Express: Tata Consultancy likely to offer decision-support solutions . https://web.archive.org/web/20180114184639/http://expressindia.indianexpress.com/fe/daily/19981209/34355174p.html . dead . 14 January 2018 . expressindia.indianexpress.com . 14 January 2018.
  24. Web site: Statupwala – TCS. Beyond the Obvious . www.startupwala.com . 2022-06-16.
  25. News: Business Standard – 'No one ever wrote a book about TCS' . Business Standard India . 17 September 2011 . 2022-06-16.
  26. News: With $100 billion m-cap, TCS is an outlier. The Economic Times. 24 April 2018.
  27. News: Star Performer Goes Public . Editorial . The Hindu . 14 June 2004 . Chennai, India . 13 February 2009 . 18 June 2004 . https://web.archive.org/web/20040618043309/http://www.hindu.com/2004/06/15/stories/2004061502001000.htm . dead .
  28. Web site: TCS launches the country's first bioinformatics product . https://web.archive.org/web/20040816185800/http://www.expresscomputeronline.com/20040802/indianews03.shtml . dead . 16 August 2004 . The Indian Express . 8 February 2004 .
  29. Web site: Business Insider India – 10 months, 100 clients, and last minute course corrections — TCS CMO shares all the work behind the software giant's new look . www.businessinsider.in . 2022-06-16.
  30. Web site: ICT helps IRCTC book 3.5 lakh e-Tickets in a day . https://web.archive.org/web/20110927011559/http://egovonline.net/interview/interview-details.asp?interviewid=808 . dead . 27 September 2011 . E-GovOnline.net . 11 July 2011.
  31. Kanavi . Shivanand . Megasoft . Business India . 52 . 20 June 2004.
  32. Web site: Eye on future, TCS in revamp mode . Hindustan Times . 12 February 2008.
  33. Web site: TCS targets SME market with cloud computing . Computer Weekly . 15 February 2011.
  34. Web site: TCS overtakes RIL as country's most valued firm – PTI . Moneycontrol.com . 30 December 2011 . 3 September 2013.
  35. News: TCS beats $10-bn revenue mark in FY12 . Business Standard . 24 April 2012 . 3 September 2013.
  36. http://www.tcs.com/news_events/press_releases/Pages/Department-Posts-Core-System-Integrator-project-TCS.aspx TCS News & Events: Press Release: Department of Posts Awards Core System Integrator project to TCS
  37. News: TCS joins top 10 global IT services companies club. The Times of India. 2 July 2015.
  38. News: TCS first Indian company to top Rs 5 lakh crore market cap. 24 July 2014 . Times of India.
  39. News: TCS Crosses Rs.5 Lk Cr Market Cap. 24 July 2014 . Bloomberg TV India.
  40. News: TCS ends RIL's 23-year run as most profitable firm. 20 January 2014 . Times of India.
  41. News: TCS partners with Aurus to enhance Omnichannel payment solutions with OmniStore. 17 January 2017.
  42. News: Tata Consultancy Services Ltd.. Business Standard India. 27 June 2018.
  43. Web site: Tata to sell its stakes worth $1.25 billion in TCS to pay debt. The Times of India . 13 March 2018. 7 October 2018. https://web.archive.org/web/20181007223133/https://timesofindia.indiatimes.com/business/india-business/tata-to-sell-1-25-billion-stake-in-tcs-to-pay-debt/articleshow/63282529.cms. 7 October 2018. live.
  44. News: Tata Consultancy Services Ltd.. Business Standard India. 23 May 2019.
  45. News: TCS surpasses Accenture in m-cap to become world's most-valuable IT company. The Economic Times. 13 October 2020.
  46. Web site: TCS briefly beats Accenture to become the world's largest IT company.
  47. Web site: TCS Surpasses Reliance Industries To Become Country's Most Valued Company. 25 January 2021.
  48. News: Sangani. Priyanka. TCS hires 43,000 freshers in H1 FY22, plans to add 35,000 in H2. The Economic Times.
  49. News: Sangani. Priyanka. TCS says its platforms and products business is worth about $3 billion. The Economic Times. 2022-05-02.
  50. News: The Times of India – TCS unveils new brand statement 'Building on Belief'. The Times of India. 30 March 2021. 2022-06-16.
  51. Web site: Macdonald. Ayang. 2021-03-23. Neurotechnology to provide biometric de-duplication software for India's Aadhaar program. 2022-10-17. www.biometricupdate.com. en-US.
  52. Web site: 2017-03-16. World Bank chief economist gives thumbs up to Aadhaar, says it's most sophisticated in the world. 2022-10-17. Business Today. en.
  53. News: The Times of India – TCS unveils new brand statement 'Building on Belief'. The Times of India. 30 March 2021. 2022-06-16.
  54. Web site: Macdonald. Ayang. 2021-03-23. Neurotechnology to provide biometric de-duplication software for India's Aadhaar program. 2022-10-17. www.biometricupdate.com. en-US.
  55. Web site: 2017-03-16. World Bank chief economist gives thumbs up to Aadhaar, says it's most sophisticated in the world. 2022-10-17. Business Today. en.
  56. TCS IT Services
  57. TCS BPO Services
  58. TCS Cloud Services
  59. TCS Digital Transformation
  60. TCS Enterprise Solutions
  61. TCS Cybersecurity Services
  62. TCS Consulting
  63. http://www.tcs.com/investors/Pages/TCS-CMC.aspx
  64. News: TCS outlines vision for CMC . The Hindu . 17 October 2001 . 7 September 2013 . Chennai, India . 5 January 2004 . https://web.archive.org/web/20040105122551/http://www.hindu.com/thehindu/2001/10/18/stories/06180008.htm . dead .
  65. Web site: TCS acquires CMC . Tata Group . 17 October 2001 . 7 September 2013 . https://web.archive.org/web/20130525145343/http://tata.in/company/articles/inside.aspx?artid=uC+qBm8g4A0= . 25 May 2013 . dead .
  66. Web site: TCS to consolidate market leadership through CMC acquisition . https://web.archive.org/web/20130524194016/http://tata.in/company/releases/inside.aspx?artid=eOfZSyorewE= . dead . 24 May 2013 . Tata Group . 17 October 2001 . 7 September 2013 .
  67. Web site: TCS buys 75.1% stake in AFS from Swissair. Rediff.com. 5 June 2003. 17 February 2009. https://web.archive.org/web/20050313090727/http://www.rediff.com/money/2003/may/06tcs.htm. 13 March 2005. live.
  68. News: TCS acquires Swissair stake in BPO jt venture . The Hindu . 7 May 2003 . 7 September 2013.
  69. Web site: Tata acquires Phoenix India arm. ComputerWeekly.com . 11 May 2004.
  70. Web site: TCS acquires Phoenix Global . https://web.archive.org/web/20130602013632/http://tata.in/company/Media/inside.aspx?artid=oBRXQzTz9rY= . dead . 2 June 2013 . Tata Group . 11 May 2004 . 7 September 2013 .
  71. Web site: Tata Consultancy Services Limited . Indian Brand Equity Foundation . 23 October 2006 . 7 September 2013.
  72. Web site: Annual Report 2005-06 . TCS . May 2005 . 7 September 2013.
  73. News: TCS to buy Pearl Group's life insurance, pension units . Economic Times . 19 October 2005 . 7 September 2013.
  74. Web site: TCS – Acquisition spree . Tata Group . 9 November 2005 . 7 September 2013 . https://web.archive.org/web/20130602020025/http://tata.in/company/Media/inside.aspx?artid=9wLmWetBezU= . 2 June 2013 . dead .
  75. Web site: TCS acquires Sydney-based FNS for US$ 26 million . Tata Group . 20 October 2005 . 7 September 2013 . https://web.archive.org/web/20130921192105/http://www.tata.com/article.aspx?artid=%2FU5mSWLgLiY%3D . 21 September 2013 . dead .
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  77. News: TCS buys Chilean BPO firm . The Hindu . 9 November 2005 . 7 September 2013 . Chennai, India . https://web.archive.org/web/20081205184825/http://www.hindu.com/2005/11/09/stories/2005110904261800.htm . 5 December 2008 . live .
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