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<SEC-DOCUMENT>0000950134-08-020442.txt : 20090320
<SEC-HEADER>0000950134-08-020442.hdr.sgml : 20090320
<ACCEPTANCE-DATETIME>20081113142813
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000950134-08-020442
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20081113

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>
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<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">November&nbsp;12, 2008</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="left" style="margin-top: 12pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt; background: transparent; color: #000000">
<TR>
    <TD width="3%"></TD>
    <TD width="1%"></TD>
    <TD></TD>
</TR>
<TR valign="top">
    <TD nowrap align="left">Attention:</TD>
    <TD>&nbsp;</TD>
    <TD>Mr.&nbsp;Mark Kronforst<BR>
Accounting Branch Chief<BR>
Division of Corporation Finance</TD>
</TR>
<TR valign="bottom" style="font-size:12pt">
    <TD>&nbsp;</TD>
</TR>
<TR valign="top">
    <TD nowrap align="left"><B>Re:</B></TD>
    <TD>&nbsp;</TD>
    <TD><B>Wipro Limited</B><BR>
<B>Form&nbsp;20-F for the Fiscal Year Ended March&nbsp;31, 2008</B><BR>
<B>Filed May&nbsp;30, 2008</B><BR>
<B>File No.&nbsp;1-16139</B></TD>
</TR>
</TABLE></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Dear Mr.&nbsp;Kronforst:</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We express our appreciation for review of the Annual Report on Form 20-F for the fiscal year ended
March&nbsp;31, 2008 (the &#147;Form 20-F&#148;) 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;9, 2008 regarding the Company&#146;s Form 20-F.</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: 10pt"><U><B>Form&nbsp;20-F for the Year Ended March&nbsp;31, 2008</B></U></DIV>



<!-- link2 "Item&nbsp;5. Operating and Financial review and Prospects" -->
<DIV align="left"><A NAME="000"></A></DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Item&nbsp;5. Operating and Financial review and Prospects</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>Segment Analysis, Page 42</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="1%" nowrap align="left"><I>1.</I></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>There are number of instances where you identified two or more events or conditions that
contributed to a material change in the results of operations, from one period to the next.
However, the dollar amounts or percentages for each source that contributed to the change were
not disclosed.</I></TD>
</TR>

</TABLE></DIV>
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>For instance, on page 44 under the segment analysis of Global IT Services and Products for the
years ended March&nbsp;31, 2008 and 2007, you disclose that an increase of 23% in revenue from BPO
services segment was primarily due to an increase in the number of clients and an increase in
the scope and volume of services provided to existing clients; although it is not clear how
each of these factors contributed to the change. As another example, on Page 46 your segment
analysis of India &#038; AsiaPac IT Services and Products for the years ended March&nbsp;31, 2008 and
2007, you disclose that the revenue from the services component grew by 44%. You note that the
increase was primarily driven by an increase in revenue from your system integration services,
growth in your business of hardware and software support and maintenance services, and
integration of the acquisition of 3D Networks. However, you do not further quantify each
contributing factor. In future filings, where a material change is contributed to by two or
more factors, including any off setting factors, please disclose the contribution of each
identified in quantified terms. See Section&nbsp;III.D of SEC Release No.&nbsp;33-6835 and Section&nbsp;IV.B
of Sec Release No.&nbsp;33-8350.</I></TD>
</TR>

</TABLE>
</DIV>

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We respectfully submit that we have considered the guidance in SEC releases &#151; 33-6835 and 33-8350.
In our future filings we will identify the primary contributor for the material change. If the
material change is impacted by two or more factors and each factor is significant, we will quantify
the contribution of each factor.
</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="1%" nowrap align="left"><I>2.</I></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>We note several references to utilization rates in your discussion of revenue and gross
profits. Please tell us the extent to which you use the utilization rates as a key indicator
in managing your business and indicate whether you believe that this metric contributes
meaningfully to understanding and evaluating your Company. If so, tell us what consideration
you gave to disclosing utilization rates in your MD&#038;A. See Section&nbsp;III.B.I of Sec Release No.
33-8350.</I></TD>
</TR>

</TABLE>
</DIV>

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We respectfully submit that we have considered the guidance in SEC release 33-8350. We note that
one of the principal objectives of MD&#038;A is to provide readers a view of the Company through the
eyes of the management. We have considered the key variables and other factors which we use to
manage our business. We have identified the key variables which are essential for understanding and
evaluation of our business performance.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Utilization rates are one of the key variables in our business. It is also one of the important
factors which impact our growth and profitability. Variations in our employee utilization rates may
also cause significant variations in our operating results in any particular quarter. We use
utilization rates metric along with various other factors to monitor and evaluate our business
performance. Therefore we believe that discussion on impact of utilization rates is material to
understanding and evaluation of our business performance.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Further, we also believe that the investor or a reader of the financial statements and MD&#038;A
considers utilization rates as an important factor in evaluating our business performance, and
business performance
</DIV>

<P align="center" style="font-size: 10pt"><!-- Folio -->&nbsp;<!-- /Folio -->
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">in IT services industry in general. Therefore, the impact of increase or decrease in utilization
rates is usually considered in the discussion on changes in gross profits as percentage of
revenues. In our future filings we will define utilization rates and disclose the utilization rates
for the reporting periods</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Liquidity and Capital Resources, Page52</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="1%" nowrap align="left"><I>3.</I></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>We note that your discussions of Cash Flow addresses fiscal year ended March&nbsp;31, 2008 and
2007 but does not address 2006. Please explain to us how you considered the opening paragraph
to Item&nbsp;5 of </I><I>Form 20-F</I><I>.</I></TD>
</TR>

</TABLE></DIV>

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We respectfully acknowledge that the opening paragraph of Item&nbsp;5 of Form 20-F indicates that the
purpose of the analysis of operating results and, liquidity and capital resources, is to provide
management&#146;s explanation on changes relating to historical periods covered by the financial
statements. However, we believe that significant changes in our business as they affect our
liquidity and capital resources (for example &#151; material acquisitions and use of short-term and
long-term external borrowings) occurred in fiscal 2008 thereby making the changes between fiscal
2008 and 2007 most relevant for an understanding of movement in our liquidity and capital
resources. There were no significant changes between fiscal 2007 and 2006, other than changes that
were largely in line with underlying revenue and level of operations. In our future filings, we
will continue to monitor and highlight all relevant changes and factors relating to all historical
periods covered by the financial statements.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Trend Information, Page 54</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="1%" nowrap align="left"><I>4.</I></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>There are number of instances where you refer to pricing pressure in your industries and
consequently your inabilities to raise prices. However, there is neither a quantitative nor a
qualitative discussion of whether prices have increased, decreased, or remained constant from
year to year, nor how any changes in prices have impacted your revenues from year to year. For
example, under your trend analysis for Global IT Services and Products, you disclosed that
increase competition among IT Companies and commodization of services has limited your
abilities to increase prices to improve profits. In future filings, to the extent that changes
in revenues are the result of changes in prices, please disclose in quantitative terms the
extent to which revenue changes were attributable to changes in prices, compared to changes in
vlome. See Item&nbsp;303 (a) (3) (iii)&nbsp;of Regulation&nbsp;S-K.</I></TD>
</TR>

</TABLE></DIV>

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We respectfully submit that we have considered guidance in item 303 (a) (3) (iii)&nbsp;of Regulation
S-K.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In our IT services business we provide services across industry verticals, geographies and service
lines. Pricing is impacted by a multitude of factors including experience of resources, service
line, industry vertical, geography and volume of business. Therefore it may not be meaningful to
separately identify the impact of pricing on revenue from year to year.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Further we also undertake several initiatives to grow our revenues without a corresponding increase
in resources deployed. For instance we seek to develop reusable components to improve productivity
in</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">service delivery. We also seek to increase the proportion of revenues from fixed price projects
which provides us with greater opportunity to benefit from improvements in productivity.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">These initiatives may result in growth in revenues without corresponding growth in resources. This
would have a positive impact on revenue and profitability but may not directly relate to the change
in prices charged to customers.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In our future filings, we will discuss these initiatives to highlight the different inter-linked
factors that contribute to the growth in revenues without a corresponding increase in resources
deployed.
</DIV>
<!-- link2 "Item:6 Directors, Senior Management and Employees" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Item:6 Directors, Senior Management and Employees</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Board Composition, 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="1%" nowrap align="left"><I>5.</I></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>Item&nbsp;6 of </I><I>Form 20-F</I><I> requires registrants to include in their Board Practices section the date
of expiration of the current term of office, if applicable. We note that you have identified
the date that the current terms ends for the one non &#150; retire board members. To others Dr.
Ashok Ganguly and Mr.&nbsp;P.M. Sinha have retired by rotation and are eligible for re-election.
However, the end of term for the other four members who retire by rotation is unclear. In
future filings, please revise your disclosure in this section to include a listing of the date
of expiration for the current term of office for all board members.</I></TD>
</TR>

</TABLE>
</DIV>

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In our future filings we will disclose the date of expiration of current term of office for all
board members
</DIV>
<!-- link2 "Item&nbsp;18. Financial Statements" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Item&nbsp;18. Financial Statements</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Consolidated Statements of Income, Page 105</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="1%" nowrap align="left"><I>6.</I></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>We note your presentation of &#147;IT Services and Products&#148;. To the extent product revenue is
material, please tell us how you considered Rules&nbsp;5-03 (1)&nbsp;and (2)&nbsp;of Regulation&nbsp;S-X</I></TD>
</TR>

</TABLE>
</DIV>

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We respectfully submit that we have considered Rules&nbsp;5-03(1) and (2)&nbsp;of Regulation&nbsp;S-X. For our IT
Services and Products segment, revenues from Products are not material, i.e. represents less than
1%, to the total revenues of this segment for the fiscal years 2008, 2007 and 2006. However, we
will ensure separate presentation if such Product revenues become material.
</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="1%" nowrap align="left"><I>7.</I></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>Your revenue recognition policy on Page &#150; 109 indicates that revenue from certain
multiple-elements arrangements are recognized unit ratably due to a lack of VSOE of fair value
of PCS. We also note that you have arrangements accounted for under SOP 81-1. Please tell us
where you classify these revenues and related costs in your consolidated statements of income.
If you classify these revenues and related costs in a single line item or allocate between
products and services, please explain your basis of presentation or allocation methodology,
why you believe such presentation is reasonable and confirm to us that this presentation has
been consistently applied. Assuming that your presentation of revenues and cost if revenues is
considered reasonable for purposes of complying with Rule&nbsp;5-03 (b)(1) and (2)&nbsp;of Regulation
S-X, please ensure that your</I></TD>
</TR>

</TABLE>
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<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: #textcolor#; background: #bgcolor#">
    <TD width="1%" nowrap align="left">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>MD&#038;A, critical accounting policy and estimates and footnote disclosures include a discussion of
your basis of presentation or allocation methodology and discuss the reason for such
presentation or allocation.</I></TD>
</TR>
</TABLE></DIV>

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

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">In cases where VSOE of fair value of PCS is not available, we recognize the entire arrangement fee
ratably over the PCS term. Substantially all such arrangements related to sale of third party
software licenses in our India and AsiaPac IT Services and Products segment. We believe that there
is no reasonable basis of separating the license revenues from the PCS revenues, and accordingly
for all historical periods presented, we have classified such revenues as Product revenues with
related costs classified as Product costs, in our Consolidated Statements of Income.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Substantially all arrangements accounted for under SOP 81-1 relate to software development service
contracts that do not involve significant product components. Accordingly, for all historical
periods presented, we have classified revenues from such arrangements as Services revenues with
related costs classified as Service costs, in our Consolidated Statements of Income. Such
arrangements relate to both our IT Services and Products segment and also our India and AsiaPac IT
Services and Products segment. As previously stated in our response to Comment No.&nbsp;6 above, the
Products component of our IT Services and Products segment has historically not been material.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Functional Currencies and Exchange Rate Translation, Page 109</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="1%" nowrap align="left"><I>8.</I></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>We note you do not provide an analysis of changes during the period in the accumulated amount
of translation adjustments reported in equity. Please tell us how you have considered
paragraph 31 of SFAS 52.</I></TD>
</TR>

</TABLE></DIV>

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We respectfully submit that the disclosures in paragraph 31(c) and 31(d) are not applicable to
Wipro. Further, we believe that the information required by paragraph 31(b) is provided within our
Consolidated Statements of Stockholders&#146; Equity and Comprehensive Income, read along with Note 14
of the Notes to the Consolidated Financial Statements that quantifies the amount relating to hedges
of net investments in foreign operations that have been reported as a component of translation
reserve. However, we acknowledge that we have not provided the beginning and ending amount of
cumulative translation adjustment. We respectfully submit that we shall provide this information
in our future filings.</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Revenue Recognition Page 109</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="1%" nowrap align="left"><I>9.</I></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>Your disclosures indicates that revenue from certain services are recognized using the
&#147;Proportionate Completion&#148; method. Please tell us about the services being provided and
explain what do you mean by &#147;Proportionate Completion&#148;. As a part of your response, please
tell us how you account for the direct cost related to this services. Please refer to the
authoritative literature you relied upon when determining your accounting.</I></TD>
</TR>
</TABLE></DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Response</B></U></DIV>
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</TABLE>
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We respectfully submit that substantially all our service arrangements relate to either software
development services that are accounted for under SOP 81-1 or maintenance services, which are
recognized ratably over the period of the agreement.&nbsp; However, a certain de-minimis portion of our
service revenues relate to IT consulting, quality consulting or other consulting services
(consulting services arrangements).&nbsp; These type of consulting service arrangements are recognized
using the proportionate completion method.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">The Company has relied on the guidance provided in the FASB Invitation to Comment, <I>Accounting for
Certain Service Transactions</I>, while determining the accounting for such arrangements.&nbsp; The FASB
Invitation to Comment provides the following guidance relating to the use of the proportional
performance method:
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 2%"><I>Proportional performance method</I>&#151;Performance consists of the execution of more than one act
and revenue should be recognized based on the proportionate performance of each act. For
example, if the service transaction involves a specified number of similar acts, an equal
amount of revenue should be recognized for each act. If the transaction involves a specified
number of defined but not similar acts, revenue recognized for each act should be based on
the ratio of the seller&#146;s direct costs to perform each act to the total estimated direct
costs of the transaction. If the transaction involves an unspecified number of similar acts
with a fixed period for performance, revenue should be recognized on the straight line
method over the performance period.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We respectfully submit that our consulting service arrangements involve defined but not similar
acts that are performed in a discrete project over a non-fixed period of performance.&nbsp; Accordingly,
consistent with the guidance in the FASB Invitation to Comment, our policy is to recognize revenues
based on the ratio of direct costs to the total estimated direct costs.&nbsp;&nbsp;Given the nature of the
contracts, we&nbsp;believe that this measure of&nbsp;performance is also a&nbsp;reasonable representation of the
contractual performance and output on the contract.&nbsp;Further, consistent with the guidance in the
FASB Invitation to Comment, costs are&nbsp;expensed as incurred.&nbsp;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Note: 22 Employee Stock Incentive Plan, Page 129:</B></U>
</DIV>


<DIV style="margin-top: 6pt">
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    <TD width="1%" nowrap align="left"><I>10.</I></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>We note that certain disclosures required by SFAS 123R are not included in the footnote.
Please tell us how you have considered the disclosures required by Paragraphs A240 (b)(2),
(c)(2), (e)(2), and (i)&nbsp;of SFAS 123R.</I></TD>
</TR>

</TABLE>
</DIV>

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We note that paragraph A240(b)(2) requires an entity to disclose the number and weighted average
grant-date fair value (or calculated value for a nonpublic entity that uses that method or
intrinsic value for awards measured pursuant to paragraphs 24 and 25 of this Statement) of equity
instruments not specified in paragraph A240(b)(1). Para A240(b)(1) specifies the disclosure
requirement in respect of share options and share units. All share-based payment plans of the
Company involve equity share options covered by paragraph A240(b)(1) and accordingly, the
disclosure requirements of paragraph A240(b)(2) are not applicable to the Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Paragraph&nbsp;240(c)(2) requires an entity to disclose the total intrinsic value of options exercised
(or share units converted), share-based liabilities paid, and the total fair value of shares vested
during the year. The Company has disclosed the total intrinsic value of stock options exercised
during the year, in Note 22. As
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">discussed above, since the share-based payment plans of the Company involve equity share options,
we believe that the Company has met the disclosure requirements of paragraph 240(c)(2).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Paragraph&nbsp;240(e)(2) requires an entity to provide a description of the significant assumptions used
during the year to estimate the fair value (or calculated value) of share-based compensation
awards. As disclosed in Note 2, Significant Accounting Policies, page 113, the Company issues
equity share options at a nominal exercise price (Rs 2 per option) and accordingly the intrinsic
value on the date of the grant approximates the fair value of the options. Accordingly, the
disclosure required by paragraph 240(e)(2) is not relevant for these equity share options issued.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Paragraph&nbsp;240(i) requires an entity to disclose the amount of cash received from exercise of share
options and similar instruments granted under share-based payment arrangements and the tax benefit
realized from stock options exercised during the annual period, if not separately disclosed
elsewhere. We respectfully submit that the Company has disclosed the amount of cash received
pursuant to the issuance of equity shares on exercise of stock option in the Consolidated
Statements of Cash Flows. The tax benefits realized from these stock options exercised are not
material.
</DIV>
<!-- link2 "Item&nbsp;19. Exhibits" -->
<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><U><B>Item&nbsp;19. Exhibits</B></U>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U><B>Exhibit&nbsp;Numbers 12.1 and 12.2:</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="1%" nowrap align="left"><I>11.</I></TD>
    <TD width="1%">&nbsp;</TD>
    <TD><I>Paragraphs 1 and </I><I>5(a)</I><I> of your certifications vary from the language set forth in Instruction
12 of the Instructions as to the Exhibits to </I><I>Form 20-F</I><I>. The certifications may not be changed
in any respect from the language set forth therein, even if the change would appear to be
inconsequential in nature. See Section&nbsp;II.B.4 of SEC Release No.&nbsp;34-46427. In future filings
please make sure that you will use the exact language.</I></TD>
</TR>

</TABLE>
</DIV>

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


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We respectfully submit that the language used in the certifications is verbatim as prescribed in
Instruction 12 of the Instructions as to the Exhibits to Form 20-F except in the following line:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt"><U>I have reviewed this annual report on Form 20-F of Wipro Limited, hereinafter referred to as
the Company, for the year ended March&nbsp;31, 2008</U>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">We shall ensure the use of the exact language in our future filings.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>In connection with our response, we acknowledge that:</B>
</DIV>


<DIV style="margin-top: 6pt">
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="2%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Company is responsible for the adequacy and accuracy of the disclosure in its
filings;</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%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>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</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%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left"><B>&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>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.</TD>
</TR>

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</TABLE>
</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>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 48%">Yours sincerely,<BR>
Wipro Limited</DIV>

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<TD colspan="3" style="border-bottom: 1px solid #000000" align="left">/s/
<FONT style="font-variant: SMALL-CAPS">Suresh C. Senapaty</FONT>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD colspan="3" align="left">Suresh C. Senapaty<BR>Chief
Financial Officer and<BR>Director</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
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