| Confucius Says.... |
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TCS to open 3rd unit in China
8 September 2007, REUTERS |
BANGALORE : India's top software services exporter, Tata Consultancy Services, plans to set up a third software services facility in China by March-end and raise the staff strength there to 5,000 by 2010 from about 1,000 now.
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The Mumbai-based company's existing facilities are located in Beijing and Hang Zhou. It has partnered with local firms for its joint venture in China, in which Microsoft Corp is likely to buy a 10% stake soon, Chandrasekaran said.
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Tata Consultany's smaller rivals Infosys Technologies, Wipro and Satyam Computer Services have also opened shops in China over the last two years, lured by cheaper costs and big business potential. Chandrasekaran said TCS was eyeing outsourcing deals from local Chinese companies as well as large foreign firms that have operations in the world's fourth-largest economy.
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"It's a great market, lots of things to do," he said. In February, TCS said it had won a multi-million dollar contract to modernise the China Foreign Exchange Trade System's trading platform.
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Shares in Tata Consultancy, whose clients include General Electric and ABN AMRO, was up 0.1% at Rs 1,078 on the Bombay Stock Exchange.
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