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IBM Recognized as Overall Best U.S. Company in India by Indo-American Chamber of Commerce


ARMONK, NY -IBM India (NYSE: IBM) has been recognized as the ’Overall Best’ U.S. Company in India by the Indo-American Chamber of Commerce (IACC), the only bilateral trade facilitating body.

“Receiving this award is a moment of immense pride for IBM India and we thank the Indo-American Chamber of Commerce for the recognition,” said Shanker Annaswamy, Managing Director, IBM India. “IBM has been regarded as an icon for corporate excellence and governance around the world and we are committed to bring in the same exemplary levels of corporate excellence to India. This award reiterates the maturity of IBM in India and our leadership in the dynamically growing market of India.”

The award was presented to Shanker Annaswamy by Michael S. Owen, U.S. Consul General, on June 30, 2007 during the Indo-American Corporate Excellence Awards in Mumbai. The Indo-American Corporate Excellence (IACE) Awards 2007 recognizes the Best U.S. Companies in India in the various categories which include: Overall Best Company, Best U.S. Company in Manufacturing, Financial Services, Technology, and Communications and Entertainment.

The companies for IACE Awards 2007 go through multiple stages of evaluation and a careful review by the distinguished jury based on parameters and its contribution to the India market through Indo-U.S. Trade, Financial Performance, Corporate Social Responsibility Initiatives and Human Capital Management. IBM was evaluated against other organizations which have operated in India for a minimum of two years and are a subsidiary of a U.S. company or is managed and controlled by a U.S. corporation.

IBM has been present in India since 1992. Since inception, IBM in India has expanded its operations considerably with regional headquarters in Bangalore and offices in 14 cities including regional offices in New Delhi, Mumbai, Kolkata and Chennai. India has been the fastest growing country for IBM globally, leading the Asia Pacific region in 2006. IBM’s operations in India have more than quadrupled in the last five years with employee strength at more than 53,000.

IBM’s growth has been marked not only by the growth of the number of employees but also significantly by its surging domestic revenues at 37% and growing. IBM is one of the largest MNC investors in India with an announcement of investment of $6 billon in India over the next three years. As immediate steps in its increased investment in India, in 2006 IBM established the first in a new breed of Service Delivery Centers in Bangalore, created the IBM Systems and Technology Group Innovation, Development and Executive Briefing Center in Bangalore, and located a Telecommunications Research and Innovation Center at its India Research Lab.

IBM India was also declared the market leader in India’s Domestic IT Services market for 2006 in a recent announcement by analyst firm, IDC.

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