The product will take on global leaders like Sterling Systems who have a leadership position in the software tools market, and is simultaneously being launched at Florida in the United States. It is the first such product from an Indian company and has taken over 80 person's years of effort, said Mathai Joseph, executive director of Tata Research, Design & Development Centre, the research arm of TCS.

The world market for software development tools is estimated at $ 5 billion to $ 8 billion. And although, TCS would not comment on the revenue it is targeting from MasterCraft, Ramadorai saidcompanies in this business were around $ 400 million.

TCS has already bagged a $ 30 million project from an American client for MasterCraft. In the domestic market, it is executing a project for Unit Trust of India to link all its mutual fund schemes in association with McKinsey. Revenues will primarily come from three streams -- licensing, consulting and training. The cost of an installation starts at $ 150,000.

Initially, TCS will be handling most of the implementation for projects using MasterCraft by itself. It has been using the product in-house for the past four years and has executed a number of projects like the National Depositories project in 5 months using the tool.