India Gets Its First $100 Billion Company in a Decade
- TCS helped put India on the map for global technology
- The milestone underscores the importance of tech to India
India’s waited 10 years to host another $100 billion corporation. Fittingly, the first company to attain that mantle in a decade is Tata Consultancy Services Ltd., the outsourcing giant that helped put the country’s best-known industry on the map.
India’s most valuable company achieved that milestone after gaining as much as 4.6 percent Monday in the wake of better-than-expected earnings. It’s now outstripped Goldman Sachs Group Inc. and joined the ranks of the world’s 100 largest corporations, based on Friday’s closing prices. The last Indian name to cross that threshold was Reliance Industries Ltd. -- the telecom-to-energy conglomerate controlled by billionaire Mukesh Ambani surpassed that barrier in 2008 when the rupee was at least 30 percent stronger than today.