Top clients of Indian and Global IT companies

Management of Indian and Global IT companies have uniformly turned cautious in their commentary with regards to the overall demand scenario due to i) pullbacks on discretionary spends by clients; ii) constrained client spending; iii) prolonged and volatile decision making within clients; and iv) deal wins getting re-prioritized or cancelled. Clients are resorting to restructuring programs, and layoffs to enhance their profitability. In such an environment it is crucial to gauge who are the top-clients of these Indian and Global IT companies, as seldom do these companies share client-specific information for confidentiality reasons. However, some indications on who their US clients are, is provided by Labor Certification Applications (LCAs) which are pre-requisites for filing H-1B visas/work visas, where these companies need to specify how many visas are sought for each client.  Analysis of top US clientele based on LCA filings suggests: 1) highest skew is seen towards BFSI clienteles where companies are indicating higher caution; 2) Indian IT companies have higher skew towards BFSI/CMT clients, while a lower exposure to Retail accounts; 3) Number of top-10 clients scale-up over last 3 years is much higher for Global IT than Indian IT; 4) Highest client retention seen at TCS/Wipro within Indian IT and IBM/Accenture within Global IT; 5) Client churn is highest at Capgemini and Cognizant due to market share gain from the Indian IT companies; 6) Cut-throat competition  between Infosys and TCS as they share 4 of their top-10 clients.