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Collectively and individually, the impact of the six leading India-based IT services providers continued in 2009, with HCL, Cognizant, Wipro, TCS, and Infosys (in order of growth rates) all achieving growth that outpaced the rest of the market,
• In 2009, the top six India-based providers' collective share of the global IT services market was 2.7%, up slightly from their 2.5% share in 2008.
• The largest of the India-based providers, TCS, with $5.7 billion in worldwide revenue in 2009, is ranked No. 25 in overall IT services market share
• The top India-based performers in total IT services revenue growth were HCL (27.6% annual growth on $2.2 billion in revenue) and Cognizant (16.4% growth on $3.1 billion in revenue). In rank order, HCL moved up from 75th position in 2008 to 60th in 2009 and Cognizant moved up from 48th to 42nd in the same time period.
• The top six India-based providers are also clearly diversifying their geographic presence, as well as expanding their service lines
HCL recorded the highest growth in 2009, benefiting from the acquisition of SAP consultancy Axon, as well as winning some large total outsourcing deals signed in 2008, revenue of which flowed into the subsequent quarters of 2009. These total outsourcing deals also included rebadging of client employees quite unlike other Indian providers. High growth was also the result of aggressive and focused sales efforts to retain clients. Moreover, HCL experienced relatively little impact in the vendor consolidation activity during the downturn, which signifies high customer satisfaction among HCL's clients; contributing factors of quality process focus, as well as the company's "employee first, customer second" principle. HCL's acquisition of Axon also yielded business growth, as it continued to upsell/cross-sell services to this newly acquired client base.