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<SEC-DOCUMENT>0000950134-06-019355.txt : 20070330
<SEC-HEADER>0000950134-06-019355.hdr.sgml : 20070330
<ACCEPTANCE-DATETIME>20061020123305
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000950134-06-019355
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20061020

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WIPRO LTD
		CENTRAL INDEX KEY:			0001123799
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROGRAMMING SERVICES [7371]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		SURVEY #76P & #80P DODDAKANAHALLI VILLAG
		STREET 2:		VARTHUR HOBLI SARJAPUR RD BANGALORE
		CITY:			KARNATAKA
		STATE:			K7
		ZIP:			560035
		BUSINESS PHONE:		91-80-2844-0011

	MAIL ADDRESS:	
		STREET 1:		SURVEY #76P & #80P DODDAKANAHALLI VILLAG
		STREET 2:		VARTHUR HOBLI SARJAPUR RD BANGALORE
		CITY:			KARNATAKA
		STATE:			K7
		ZIP:			560035
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>WIPRO LIMITED<BR>
Doddakannelli<BR>
Sarjapur Road<BR>
Bangalore, Karnataka 560035, India</B>
</DIV>


<DIV align="Center" style="font-size: 10pt; margin-top: 6pt">October&nbsp;20, 2006

</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Via EDGAR </B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">United States<BR>
Securities and Exchange Commission<BR>
100 F Street, N.E<BR>
Washington, D.C. 20549

</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
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<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="93%">&nbsp;</TD>
</TR>
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<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Attention:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Mr. Brad Skinner</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Accounting Branch Chief</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Division of Corporation Finance</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>Re:</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Wipro Limited</B></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Form&nbsp;20-F for the Fiscal Year Ended March&nbsp;31, 2006</B></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Filed June&nbsp;22, 2006</B></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>Form&nbsp;6-K filed August&nbsp;14, 2006</B></TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top"><B>File No.&nbsp;1-16139</B></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt">Dear Mr.&nbsp;Skinner:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We express our appreciation for your review of the Annual Report on Form 20-F for the fiscal year
ended March&nbsp;31, 2006 (the &#147;Form 20-F&#148;) and Quarterly Report on Form 6-K (the &#147;Form 6-K&#148;) for the
fiscal quarter ended June&nbsp;30, 2006 of Wipro Limited (&#147;Wipro&#148; or the &#147;Company&#148;), filed with the
Securities and Exchange Commission (the &#147;Commission&#148;). We submit this letter in response to the
comments from the staff (the &#147;Staff&#148;) of the Commission set forth in the Commission&#146;s letter dated
September&nbsp;27, 2006 regarding the Company&#146;s Form 20-F and Form 6-K.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In this letter, for the Staff&#146;s convenience, we have reproduced the comments from the Staff and
have followed each comment with our response.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Form&nbsp;20-F for the Year Ended March&nbsp;31, 2006</B></U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations</B></U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Liquidity and Capital Resources, page 59</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" nowrap align="left"><I>1.</I></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>Your discussion under this section identifies changes in various financial statement line
items which have impacted your cash flows, but does not appear to address the underlying
causes of the changes in those items. For example, you indicate that an increase in accounts
receivable as of March&nbsp;31, 2006, as compared to March&nbsp;31, 2005, impacted your</I></TD>
</TR>

</TABLE>
</DIV>
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</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">United States<BR>
Securities and Exchange Commission<BR>
October&nbsp;20, 2006<BR>
Page 2

</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>cash flow from operations. However, you do not describe the underlying causes of the increase in
accounts receivable. Explain to us how you have considered providing discussion of the underlying
reasons for material changes in line items in your cash flow statements.</I></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Response</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We supplementally advise the Staff that several of the line items that impact our operating cash
flows have changed largely due to the change in our revenues and level of operations. For example,
a substantial portion of the changes in our accounts receivable, accrued expenses and employee
costs is due to increases in revenues and operations and the related increases in our employee and
other costs.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We further advise the Staff that we will disclose the correlation between our revenues and level of
operations and the changes in financial statement line items that impact our cash flows in our
future filings with the Commission, as appropriate, including in our Quarterly Report on Form 6-K
for the three months ended September&nbsp;30, 2006. Additionally, for all significant changes that do
not directly correlate to changes in our revenues and level of operations, we will disclose the
underlying causes of the changes in our future filings with the Commission, as appropriate,
including in our Quarterly Report on Form 6-K for the three months ended September&nbsp;30, 2006.
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" nowrap align="left"><I>2.</I></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>Discussion regarding certain of your acquisitions indicates that the acquisitions will be
funded through &#147;internal accruals.&#148; Explain to us what &#147;internal accruals&#148; represent and how
they will be used to fund acquisitions. Consider providing similar clarifying disclosure in
future filings.</I></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Response</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We supplementally advise the Staff that internal accruals are the cash flows that we expect to
generate from our operations. We believe that our cash and cash equivalents and investments in
liquid and short term mutual funds as of March&nbsp;31, 2006 and the cash flows expected to be generated
from our operations in the future will be sufficient to fund our acquisitions. Since 2000, we have
not funded acquisitions through debt.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We further advise the Staff that we will provide this clarifying disclosure in our future filings
with the Commission.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Critical Accounting Policies, page 64</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" nowrap align="left"><I>3.</I></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>We note the disclosure, appearing in the final sentence of the third paragraph of this
section, regarding your accounting policies for costs incurred in connection with specific
anticipated contracts. Based on this disclosure, your accounting policies for these costs are
not clear. In this regard, it is not clear if, and under what circumstances, costs incurred in
connection with specific anticipated contracts are deferred. Describe for us, in reasonable
detail, your accounting policies with respect to these costs. As part of your response,
describe the nature of the specific costs involved. Provide reference to the specific</I>
</TD>
</TR>
</TABLE>
</DIV>
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</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">United States<BR>
Securities and Exchange Commission<BR>
October&nbsp;20, 2006<BR>
Page 3

</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>authoritative literature that supports your accounting. Also, explain how you have considered
SOP 98-5.</I></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Response</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We supplementally advise the Staff that as disclosed in our &#147;Critical accounting policies&#148;
discussion on revenue recognition in the Form 20-F, revenue from fixed-price, fixed-timeframe
contracts that involve significant production, modification or customization of software is
accounted for in conformity with ARB No.45, using the guidance in Statement of Position (SOP)&nbsp;81-1,
and the Accounting Standards Executive Committee&#146;s conclusions in paragraph 95 of SOP 97-2.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We have applied the guidance in paragraphs 73 and 75 (a)&nbsp;of SOP 81-1 in accounting for our
pre-contract costs associated with such contracts. Pre-contract costs largely represent costs of
resources deployed on a customer project, during the period that we are finalizing the specific
terms of the contract with the customer. In such cases, we defer recognition of revenue until the
contract is signed. The direct cost of the resources deployed during the pre-contract period are
deferred when we determine that recoverability of such costs from the contract is probable. We
have been able to subsequently sign a contract in substantially all such cases and have not
reported any instances where previously deferred costs have not been recovered through contracts
signed subsequently.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We have determined that such pre-contract costs arise out of our routine existing business
operations and services and do not represent costs of start-up activities as contemplated in SOP
98-5.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We further advise the Staff that we will revise our description of our accounting policy for such
costs in our future filings with the Commission, as follows:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#147;Costs that are incurred for a specific anticipated contract and that will result in no
future benefits unless the contract is obtained are not included in contract costs before the
receipt of the contract. However, such costs are deferred, subject to the evaluation of
their probable recoverability.&#148;</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Financial Statements</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Notes to the Consolidated Financial Statements</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Note 2. Significant Accounting Policies, page 117</B></U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Derivatives and Hedge Accounting</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" nowrap align="left"><I>4.</I></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>We note your discussion regarding the use of short term forward foreign exchange contracts
(roll over hedging) in connection with your foreign currency risk management
activities. Explain to us, in reasonable detail, how you have applied the criteria of SFAS
133 in determining that these roll-over instruments qualify for hedge accounting. As part of
your response, describe the material terms of the hedging instruments, including whether</I></TD>
</TR>

</TABLE>
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</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">United States<BR>
Securities and Exchange Commission<BR>
October&nbsp;20, 2006<BR>
Page 4

</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>roll-overs are at current or historical exchange rates. Describe your accounting for these
instruments from inception to final resolution. In this regard, clearly explain how you
determine the portion of the gain or loss on a given forward exchange contract that is
deferred and the portion that is recognized in current earnings.</I></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Response</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Rollover strategy and terms of the rollover instruments: </I>We use a rollover hedging strategy that
involves acquiring short-term forward contracts (to sell US dollars and receive Indian rupees) to
hedge forecasted transactions representing inflows from foreign currency forecasted sales
transactions with third-party customers. The counterparty to the forward contract is a bank with a
high credit rating. The notional amount of the series of forward contracts matches the expected
foreign currency amount of the forecasted transaction. Under such a rollover hedging strategy, the
complete series of forward contracts is not acquired at the inception of the hedge; rather,
short-term forward contracts are initially acquired as part of a plan to replace maturing forward
contracts with successive new short-term forward contracts until the period in which the forecasted
transaction is expected to occur. The series of forward contracts maturing during the period of the
hedge are contemporaneously rolled over with new short-term forward contracts at the exchange rates
prevailing at the time of the roll-over.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">From a risk management perspective the results of this rollover hedging strategy are similar to the
results of using a single long-term forward contract with a maturity matching the period that the
forecasted transaction is expected to occur. Thus, rollover hedging effectively ensures that the
forecasted transaction is hedged at the spot rate underlying the forward contract obtained at the
inception of the rollover strategy.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Hedge accounting criteria of SFAS 133: </I>We supplementally advise the Staff that we have applied the
guidance in paragraphs 28 and 29 of SFAS 133 to account for our roll-over instruments as cash flow
hedges. Specifically:
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>At the inception of a hedge, we maintain detailed formal
documentation of the hedging relationship and our risk management
objective and strategy for undertaking the hedge including
identification of the hedging instrument, the hedged item, the
nature of the risk being hedged and how the hedging instrument&#146;s
effectiveness is assessed, retrospectively and prospectively. We
have applied the guidance in EITF Topic No.&nbsp;D-102 in documenting
the hedging relationship.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The hedged items represent groups of similar forecasted
transactions, such as foreign currency sales denominated in US
dollars from similar customers during a specific month. The
forecasted transactions are described with sufficient specificity,
such as the first &#091;X&#093; million US dollars of sales during a month,
to permit identification of the hedged transactions as they occur.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>We have determined that the occurrence of the forecasted hedged
transaction is probable based on assessment of factors like
historical trend of revenues, which are consistent with the
business plans approved by our Board of Directors.</TD>
</TR>


</TABLE>
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">United States<BR>
Securities and Exchange Commission<BR>
October&nbsp;20, 2006<BR>
Page 5

</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The hedging relationship is highly effective in achieving
offsetting changes in our cash flows of a forecasted transaction
both at the inception of the hedge and on an ongoing basis. We
measure effectiveness and ineffectiveness at each reporting date
(three months) using the dollar offset method. We evaluate the
hedge effectiveness of the roll-over instruments based on the spot
rates (excluding the forward premium/discount points).
Historically, all roll-over instruments have been highly effective
and we have not recorded any amounts in our income statement
towards the ineffective portion of these instruments</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>Each forward contract entered into as part of the roll-over
strategy qualifies for application of hedge accounting.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><I>Accounting for rollover hedging instruments: </I>Our rollover instruments are carried at fair value
at each reporting period. The effective portion of the gains or loss is deferred and recorded in
other comprehensive income. Similarly, the effective portion of gains/losses resulting from
maturing contracts under the rollover strategy is also deferred and recorded in other comprehensive
income. The deferred amounts recorded in other comprehensive income are subsequently recognized in
our earnings in the same period in which the hedged forecasted transaction affects our earnings.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The premium/ discount points of the rollover hedging instrument is excluded from our hedge
effectiveness assessment. The premium/discount points are considered an ineffective portion of the
hedge and the changes in fair value relating to premium/discount points is reflected in our
earnings in each period. Similarly, any other ineffective portion of the rollover hedging
instrument is recorded in our earnings in each period.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Note 12. Other Current Liabilities, page 26</B></U>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" nowrap align="left"><I>5.</I></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>We note the increase in the year end balance for warranty obligations as of March&nbsp;31, 2006 as
compared to the prior year. Explain to us, in reasonable detail, the reasons for this
increase. Explain to us how you have considered providing similar disclosure in your MD&#038;A.</I></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Response</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We provide normal warranties on computers, networking equipment and related hardware products sold
by our India and AsiaPac business segment. We recognize the warranty costs at the time that the
related revenues are recognized based on our historical experience of material usage and service
delivery costs. Our costs of servicing the warranty obligations largely represent costs of
materials used and service delivery costs. Our warranty obligations as of March&nbsp;31, 2006 increased
due to the following reasons:
</DIV>


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    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>an increase in our revenues from the sale of our products in the
India and AsiaPac business segment during the year ended March&nbsp;31,
2006, which represented a 20% increase over our revenues in the
prior year; and</TD>
</TR>


</TABLE>
</DIV>
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</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">United States<BR>
Securities and Exchange Commission<BR>
October&nbsp;20, 2006<BR>
Page 6

</DIV>

<DIV style="margin-top: 6pt">
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    <TD width="2%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a change in our revenue mix during our year fiscal ended March&nbsp;31,
2006 in favor of products like computer servers and networking
equipment, which require relatively higher level of warranty
servicing costs.</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We supplementally advise the Staff that the warranty costs and the related warranty liability do
not comprise a significant portion of our total expenses and our total liabilities, respectively.
For example, for the year ended March&nbsp;31, 2006, our warranty costs were 0.7% of our total expenses
and the accumulated warranty liability was 3% of our total liabilities. We believe that,
currently, the change in our warranty obligation liability did not have a material impact on our
costs and results of operations during our fiscal year ended March&nbsp;31, 2006 as compared to the
prior year, and therefore was not considered for disclosure in our MD&#038;A section in the Form 20-F.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Note 28. Commitment and Contingencies, page 141</B></U>
</DIV>


<DIV style="margin-top: 6pt">
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" nowrap align="left"><I>6.</I></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>We note your disclosure regarding tax demands received from Indian Income Tax authorities.
Tell us your assessment of the likelihood of material loss with respect to these tax demands.
Please note, a statement that a contingency is not expected to be material does not satisfy
the requirements of SFAS 5 if it is at least a reasonable possibility that a loss exceeding
amounts already recognized may have been incurred, and the amount of that additional loss
would be material. In that case, you must disclose the estimated additional loss or range of
loss, that is reasonably possible, or state that such an estimate cannot be made.</I></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Response</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">As disclosed in Note 28, Commitments and Contingencies, in our Financial Statements included in
the Form 20-F, the first income tax appellate authority substantially upheld the deductions claimed
by us under Section&nbsp;10A of the Indian Income Tax Act. We believe that the possibility that the
position of the Indian tax authorities will prevail over our position in future proceedings is less
than probable, but more than remote. Accordingly, while no accrual is required, the nature of the
contingency has been disclosed.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We supplementally advise the Staff that the expected range of loss due to this contingency is
between zero and the amount of the demand raised. We further advise the Staff that we will
disclose this range of loss in our future filings with the Commission.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Form&nbsp;6-K filed August&nbsp;14, 2006</B></U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Financial Statements</B></U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Notes to Consolidated Financial statements</B></U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Note 3. Acquisitions, page 15</B></U>
</DIV>


<DIV style="margin-top: 6pt">
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" nowrap align="left"><I>7.</I></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>Disclosures regarding your acquisition of Northwest Switchgear Limited indicates in part,
that the significant majority of the purchase price has been primarily allocated to
marketing-related intangible assets, including trade mark and brand names. Explain to us</I>
</TD>
</TR>
</TABLE>
</DIV>
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</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">United States<BR>
Securities and Exchange Commission<BR>
October&nbsp;20, 2006<BR>
Page 7

</DIV>

<DIV style="margin-top: 6pt">
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>your basis for this purchase price allocation. As part of your response, explain how you have
considered the guidance of SFAS 141, pars. 35 through 37.</I></TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>Response</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We supplementally advise the Staff that we have followed the guidance in paragraphs 35 to 37 of
SFAS 141 in allocating the purchase price of our acquisition of Northwest Switchgear Limited. As
disclosed in Note 3 in our Financial Statements in the Form 6-K, the purchase price allocation has
been performed on a preliminary basis. As required by paragraph 35 of SFAS 141, we have identified
all of the assets and liabilities assumed, including intangible assets that meet the criteria in
paragraph 39 of SFAS 141, regardless of whether they had been recorded in the financial statements
of the acquired business. Through this process, we have identified property and equipment,
inventory, trademarks, brand names and a non-compete agreement as significant assets that qualify
for separate recognition. The trademarks, brand names and non-compete agreement were not
previously recorded in the financial statements of the acquired business. As required by paragraph
37 of SFAS 141, we have recorded the finished goods inventory at estimated selling prices less the
sum of (a)&nbsp;cost of disposal and (b)&nbsp;a reasonable margin for the selling efforts. Similarly, we
have recorded the plant and equipment (which will be used in operations) at current replacement
cost for similar equipment. The trademarks, brand names and non-compete agreement have been
recorded at estimated fair values using a discounted cash flow approach. While we have performed a
preliminary valuation of the trademarks, brand names and non-compete internally, we are awaiting
inputs from independent valuation specialists on certain assumptions relating to the valuation of
such intangible assets. We currently expect to finalize the purchase price allocation over the
next two quarters.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>In connection with our response, we acknowledge that:</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>&#149;</B> The Company is responsible for the adequacy and accuracy of the disclosure in its filings;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>&#149;</B> Staff comments or changes to disclosure in response to Staff comments do not foreclose the
Commission from taking any action with respect to the filings; and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><B>&#149;</B> The Company may not assert Staff comments as a defense in any proceeding initiated by the
Commission or any person under the federal securities laws of the United States.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Please feel free to call me at 91-080-28440055 or our outside counsel Raj Judge at Wilson
Sonsini Goodrich &#038; Rosati, P.C., at (650)&nbsp;320-4688, with any questions you may have.
</DIV>
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    <TD width="2%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
</TR>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Yours sincerely,</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Wipro Limited</TD>
</TR>
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    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">/s/ Suresh C. Senapaty</TD>
</TR>
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    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Suresh C. Senapaty</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Chief Financial Officer and</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Executive Vice President, Finance</TD>
</TR>
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