| | | Question to DEEPSEEK :- " Which USA Public Companies have at least 1/3 of their business selling to India?"
Answer ------>
Here is a breakdown of companies by category that have substantial exposure to the Indian market:
1. Technology & IT Services Companies. This is the most obvious category. Many U.S. tech firms have massive operations in India for both sales and talent.
- Cognizant Technology Solutions (CTSH): While headquartered in the U.S., a very significant portion of its workforce and operations are in India. Its revenue from clients in India might not be 1/3, but its dependency on its Indian delivery centers for global revenue is enormous.
- Accenture (ACN): Similar to Cognizant, Accenture has a massive employee base in India (hundreds of thousands), making it one of the largest employers in the IT sector there. Again, revenue is booked by client location.
- Fabrinet (FN): An optical components manufacturer. In its recent 10-K, it reported that approximately 44% of its net revenue came from operations located in Thailand that were attributable to customers in India. This is a unique case where a U.S. company's Thai facilities are primarily serving the Indian market, making it a prime example.
- Yext Inc. (YEXT): A digital presence platform. In its 2023 10-K, it explicitly stated that 39% of its consolidated revenue came from a single customer in India (understood to be Tata Motors). This is a perfect example that meets your criteria.
- Microsoft (MSFT) & Google (Alphabet, GOOGL): While their overall revenue is so vast that India alone isn't 1/3, India is one of their largest and fastest-growing markets globally, crucial for their long-term cloud and mobile advertising strategies.
- Adobe (ADBE): Has a strong and growing market presence in India for its creative and document cloud software.
2. Industrial & Manufacturing Companies
Companies that provide essential infrastructure for India's growth.
- Cummins Inc. (CMI): The engine manufacturer has a decades-long presence in India through a joint venture (Cummins India Ltd., which is publicly traded in India). The Indian market is a cornerstone of its global engine business.
- EMCOR Group (EME): Provides electrical and mechanical construction services. It has specifically cited large-scale projects in India as key growth drivers, though it doesn't break out India-specific revenue that meets the 1/3 threshold.
- A.O. Smith (AOS): A manufacturer of water heaters and water treatment products. It has a major and highly successful subsidiary in India (A.O. Smith India Water Products Pvt. Ltd.) and has frequently highlighted the Indian market as a primary growth engine outside the U.S.
3. Financial Services & Payment Processors- Visa (V) & Mastercard (MA): They are deeply invested in the digitization of India's economy. While, again, their global scale is immense, the volume of payments and growth trajectory in India is a critical part of their investor story.
- SBI Holdings (SBIGY): This is a special case. It's the U.S.-traded ADR for SBI Holdings, a Japanese financial conglomerate. However, it has a massive strategic focus on investments in the Indian fintech sector, making its fortunes closely tied to the Indian market.
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