India's Set to Get its First $100 Billion Company in a Decade
- TCS is outpacing its peers in a difficult digital transition
- The milestone underscores the importance of tech to India
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It’s good to be back. Tata Consultancy Services Ltd. is on the brink of becoming India’s first $100 billion corporation in a decade, underscoring the growing importance of the technology sector to Asia’s third largest economy.
India’s most valuable company gained more than 6 percent Friday after unveiling better-than-expected earnings, taking its market capitalization to more than $98 billion. If it achieves that milestone, it could outstrip Goldman Sachs Group Inc. and join the ranks of the world’s 100 most valuable corporations. The last Indian name to cross that threshold -- in 2008 -- was Reliance Industries Ltd., the telecoms-to-energy conglomerate controlled by billionaire Mukesh Ambani.