Syntel is another US-based IT services company in the DQ Top50 club, who pioneered offshoring to India. In FY 2004-05 it derived the larger share of their revenues from India operations. The India connection was further enhanced when two Indians, Vinod Swami and Revathy Ashok, were appointed as global head of Sales and CFO, respectively, while Keshav Murugesh was promoted to be the COO. The company also invested $40 mn in three phases to set up a flagship development center in Pune, besides a smaller one in Chennai.

Syntel was included in the Forbes "200 Best Small Companies" list for the fifth time in succession; it featured in the 2005 Healthcare Informatics 100; and it found a place in IDC's US mid-tier vendors to watch for in 2005. American Express, Wells Fargo and DaimlerChrysler were few of Syntel's key clients.