Tata Consultancy Services Ltd plans to more than quadruple its work force in China over the next five years, says a WSJ report. Quoting a senior company official, the news report says that the country's top software exporter plans to increase its China staff to 5,000 by 2014 from 1,100 currently.
The official said that Chinese companies are now more open to outsourcing and many of them will be looking for support in information technology outsourcing services as they globalise.
TCS reportedly entered the Chinese market in 2002. The company holds approximately 66% stake in a joint venture company named TCS China,
which it formed with three Chinese companies in 2006. Software giant Microsoft joined the JV in 2008 with a share of 8.7%.
TCS's clients in China include several of the country's big names in the financial world, like Bank of China, Ping An Insurance (Group), Huaxia Bank and China Foreign Exchange Trade System, a unit of People's Bank of China. TCS's multinational clients in the country included Motorola Inc and Johnson Controls.
TCS has four global delivery centers in China, including Beijing, Hangzhou, Shanghai and Tianjin. The company's sales office is located at Shenzhen.
Wednesday, October 14, 2009
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