Founded in the year 1945 by Mr. H. Hasham Premji, Western India Vegetable Products (Wipro) was inherited by his son, Azim Premji, when he was 21 years old. When Azim inherited Wipro, the company primarily dealt with vegetable products. However, within a few days, the company modified its strategy entirely. One of its key strategies was to expand into multiple areas like innovation, new services, value creation, future investments in human resources and business efficiencies.
The company was officially renamed as Wipro in the year 1977 after Azim Premji officially took over. Azim trod cautiously when it came to the IT industry. At that point, IBM was a strong competitor and to come in when the force was already there, the move seemed foolish. However, when the IT company left India for good in the year 1980, Azim Premji struck when the iron is hot! Wipro’s entry into the IT world opened an array of possibilities for the new company.
In fact, Wipro was the first Indian company to explore with offshore IT services in the year 1990. 1999 saw Wipro become the only Indian computer manufacturer to receive the complete Y2K certification from the National Software Testing Laboratory in the United States. The company also entered into a joint venture with KPN to provide internet services in India. The following year saw Wipro enlist in the US via American Depositary Receipts and emerge as one of India’s largest software exporters and the second largest listed company in India. Throughout the late 1990’s and early 2000’s, Wipro continued to perform well, with IT remaining its core business.
Wirpo’s journey has been commendable and successful. With more success to its name rather than failures, Wipro has emerged strongly as one of the leading IT companies not only in India but all over the world! Under Azim Premji’s fearless leadership, this particular IT company is definitely here to stay!
