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TCS aiming to double revenue from home turf
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TCS aiming to double revenue from home turf
BANGALORE
: Tata Consultancy Services (TCS), the biggest software exporter of the country, said it will double its revenues from India, currently
at $500 million, to $1 billion over next three to four years, as the company seeks to grow its business from the domestic market in order to cope better with lower demand in its top markets of US and Europe.
“The government spending is significant, apart from several stateowned utility companies who are seeking to transform,” said N Chandrasekaran, executive director and chief operating officer, TCS. As India’s top tech firms TCS, Infosys, Wipro and Satyam seek newer revenue opportunities outside the US market, country’s domestic IT market has become the new battleground for some of the biggest outsourcing contracts to be awarded this year by organisations such as Indian Railways, BSNL and India Post. “We are pursuing several government contracts, however, it could take longer because of the general elections,” Chandrasekaran added. Indian government organisations such as India Post, Indian Railways and other departments including LIC will spend around $2 billion on information technology this year, as the government’s share of total IT spend in India is set to cross 10% over the next two years. “We currently get over $1.1 billion from developing countries in Latin America, the Middle East, India and Asia Pacific,” he said.
Source:
http://economictimes.indiatimes.com/Features/TCSInfosysWipro/TCS-aiming-to-doubl
: Tata Consultancy Services (TCS), the biggest software exporter of the country, said it will double its revenues from India, currently
at $500 million, to $1 billion over next three to four years, as the company seeks to grow its business from the domestic market in order to cope better with lower demand in its top markets of US and Europe.
“The government spending is significant, apart from several stateowned utility companies who are seeking to transform,” said N Chandrasekaran, executive director and chief operating officer, TCS. As India’s top tech firms TCS, Infosys, Wipro and Satyam seek newer revenue opportunities outside the US market, country’s domestic IT market has become the new battleground for some of the biggest outsourcing contracts to be awarded this year by organisations such as Indian Railways, BSNL and India Post. “We are pursuing several government contracts, however, it could take longer because of the general elections,” Chandrasekaran added. Indian government organisations such as India Post, Indian Railways and other departments including LIC will spend around $2 billion on information technology this year, as the government’s share of total IT spend in India is set to cross 10% over the next two years. “We currently get over $1.1 billion from developing countries in Latin America, the Middle East, India and Asia Pacific,” he said.
Source:
http://economictimes.indiatimes.com/Features/TCSInfosysWipro/TCS-aiming-to-doubl
