Financial Daily from THE HINDU group of publications
Monday, Apr 11, 2005
Financial Daily from THE HINDU group of publications Monday, Apr 11, 2005 |
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Info-Tech
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Outlook TCS eyes financial sector in China Our Bureau
Bangalore , April 10 TATA Consultancy Services will focus on the fast growing banking, insurance and financial sectors in the Chinese market and would use its subsidiary in China to cater to global and regional clients as also to cater to the domestic Chinese market, CEO and MD, Mr S. Ramadorai said during the visit of the Chinese Premier, Mr Wen Jiabo to the company's facilities here on Sunday. "We are looking at expanding operations through more offices, and more development centres in China," said Mr V. Rajanna, Country Manager, TCS China. TCS has a wholly owned subsidiary in Shanghai, a global development centre in Hangzhou with about 200 people and a liaison office in Beijing. TCS also trained local professionals in software project management, delivering software and engineering solutions as well as collaborating with various Chinese universities for joint applied research and development, Mr Ramadorai said. "China will require technologies in the regulatory space, stock exchanges and retail banking systems which we will want to participate in," he said. "Our investment is long term and we will look to hire local talent," he said, although he admitted that scaling up in a single location was a problem in China due to the distribution of people across provinces. "As the market evolves, we will play a role in it," he said, adding that TCS, like other Nasscom companies, hoped for open access to bid on projects in the country. The company has invested $2 million in its Chinese operations so far. "We will invest in technology and software competence and in developing language skills," Mr Ramadorai said.
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