Shangliao Sun
Research expert covering India
Wipro - statistics & facts
Wipro Limited, initially abbreviated as West India Palm Refined Oils Limited, is a leading Indian technology services and consulting company. It was incorporated in December 1945 in Maharashtra, India. Initially, it was a manufacturer of vegetable and refined oils, and other related products, like wax and soap. In 1980, it started to diversify its business into the information technology sector.
Main business sectors
The company focuses on providing IT services, and IT products. Its revenue came predominantly from IT services, including digital strategy advisory, customer-centric design, consulting, infrastructure services, business process services, research and development, cloud, mobility and advanced analytics and product engineering. However, its primary revenue came from banking, financial services, and insurance sector, followed by the consumer and health sectors.Competitors and tech trends
Wipro is the third largest IT services and consulting company in the country in terms of net sales. The most successful Indian company in the segment was Tata Consultancy Services, a subsidiary of Tata Group. It was followed by Infosys, a company headquartered in Pune. Both companies operate in similar business verticals as Wipro. The banking, financial services and insurance (BFSI) sector is the largest contributor to their revenues among all three companies.Outlook
In order to withstand the fierce competition, Wipro has been focusing on artificial intelligence (AI), industrial cloud intelligence, industry 4.0, 5G, edge computing, and sustainability. The company has grown exponentially in a short span of time, and its IT services revenue has crossed the 10 billion U.S. dollar mark in financial year 2022.The company's latest focus has been on building AI capabilities, and it plans to integrate AI into various service areas. The company has trained more than 44,000 of its employees in advanced AI.
