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About Oxford Economics Oxford Economics was founded in 1981 as acommercial venture with Oxford University’sbusiness college to provide economic forecastingand modelling toUK companies and financialinstitutions expanding abroad. Since then,we have become one of the world’s foremostindependent global advisory firms, providingreports, forecasts, and analytical tools on morethan 200 countries, 100industries, and 8,000cities and regions. Our best-in-class globaleconomic and industry models and analyticaltools give us an unparalleled ability to forecastexternal market trends andassess theireconomic, social, and business impact. June 2025 All data shown in tables and charts are OxfordEconomics’ own data, except where otherwisestated and cited in footnotes, and are copyright©Oxford Economics Ltd. This report is confidential to Tata ConsultancyServices and may not be published or distributedwithout their prior written permission. The modelling and results presented here arebased on information provided by third parties,upon which Oxford Economics has relied inproducing its report and forecasts in good faith.Any subsequent revision or update of those datawill affect the assessments and projections shown. Headquartered in Oxford, England, with regionalcentres in New York, London, Frankfurt, andSingapore, OxfordEconomics has offices acrossthe globe in Abu Dhabi, Belfast, Chicago, Dubai,Dublin, Hong Kong, Los Angeles, Mexico City,Milan, Paarl, Paris, Philadelphia, Sydney, Tokyo,and Toronto. We employ 700 staff, includingmore than 450professional economists, industryexperts, and business editors—one of thelargest teams of macroeconomists and thoughtleadership specialists. Our global team is highlyskilled in a full range of research techniques andthought leadership capabilities from econometricmodelling, scenario framing, and economic impactanalysis to market surveys, case studies, expertpanels, and web analytics. To discuss the report further please contact: Rob Harbron:rharbron@oxfordeconomics.com Jordan Mencattelli:jmencattelli@oxfordeconomics.com Oxford Economics4 Millbank, London SW1P 3JA, UKTel: +44 203 910 8061 Oxford Economics is a key adviser to corporate,financial, and government decision-makers andthought leaders. Our worldwide client base nowcomprises over 2,500 international organisations,including leading multinational companies andfinancial institutions; key government bodiesand trade associations; and top universities,consultancies, and think tanks. Table of contents 1. Introduction052. Direct impact of TCS093. Wider Impact of TCS144. Total Impact of TCS18Appendix20 Executive summary Tata Consultancy Services (TCS) provides technology and businessconsultancy services to governments and companies around the world andhas operated in the UK for more than 50 years, and works with more than200 well-known companies in the UK, including 48 of the FTSE100. The company was also estimated to havesupported almost 42,700 jobs across the UKeconomy in FY2024.TCS directly employedapproximately 22,200 people. A further 5,000jobs were supported along the UK supply chainby its procurement spend, whilst some 15,500jobs were sustained through wage-inducedspending. This means that for every 100 peopledirectly employed by TCS, a further 90 jobs weresupported in other parts of the UK economy. This study, commissioned by TCS, assesses thefootprint the company had in the UK economy inthe 2023/24 financial year (FY2024). £3.3 billion Total contribution to GDP in FY2024 by TataConsultancy Services in the UK. Of this figure,£1.7 billionwas directlycontributed by the activities of TCS. 42,700 We estimate that TCS supported a £3.3 billioncontribution to UK gross domestic product (GDP)in FY2024.This is the sum of three channelsof impact. Some £1.7 billion was contributeddirectly by TCS. A further £350 million wascontributed by the company’s procurementspending, and the subsequent economic activitythat this triggered through TCS’s supply chain—its indirect impact. Finally, the payment ofwages by TCS and the firms in its supply chainsupported a further £1.2 billion contribution toUK GDP—its induced impact. Total jobs supported by Tata ConsultancyServices in the UK in FY2024. For every100workers employed at TCS,a further90jobs were supported acrossthe economy. Over 27% of jobs supported (or 1,400 jobs)by TCS’s supply-chain spending were in theinformation and communications sector,including 480 contractors.A further 1,000 jobswere supported in the professional servicessector, followed by 710 jobs supported inadministrative services. This means that for every £100 TCS directlycontributed to GDP in FY2024, it supported afurther £90 across the UK economy throughitsexpenditure. TCS supported a total tax contribution to theUK Exchequer of over £780 million in FY2024through all channels of impact. For context, thiswas equivalent to the salaries of over 20,400teachers.1Of this total, just under £360 million(or almost 46%