Word: indias
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Dates: during 2010-2019
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...This shift is being driven by a global economy in which the U.S. is no longer the undisputed engine of growth. India's IT powers, among them companies like TCS, Infosys Technologies and Wipro, rose to prominence largely on the decisions made by American executives, who were quick to capitalize on the cost savings to be gained by outsourcing noncore operations, such as systems programming and call centers, to specialists overseas. Focusing on the U.S. produced some spectacular results. Revenues in India's IT sector surged from $4 billion in 1998 to $59 billion in the country's fiscal year...
...West mired in "an economic reboot," his company has over the past two years opened operations centers in China, Egypt and the Philippines, while expanding others in Brazil and Romania. These markets, he says, will help Wipro achieve its primary goal: "the maintenance of velocity." (Read "Stressed Out in India's Tech Capital...
...More than the crisis is driving India's IT firms into the emerging world. As their multinational clients expand into developing countries, they are finding it imperative to follow. New customers are also surfacing among large firms and financial institutions from emerging countries as they seek to professionalize their operations. A study by NASSCOM and consulting firm McKinsey figured that by 2020 about a quarter of potential IT- and business-services revenues for outsourcing firms will be generated in the so-called BRIC countries: Brazil, Russia, India and China. Although the U.S. still accounts for 60% of the export revenue...
...Tapping these more dynamic economies won't be easy, however. The very different demands encountered in the developing world are forcing an overhaul of the way India's IT firms conduct business. Their goal for the past 30 years has been to woo clients outside India, but to transfer as much of the actual work as possible back home, where lower wages for highly skilled programmers allowed them to offer significant cost savings. With costs in other emerging economies equally low, India firms can't compete on price alone. Emerging markets also require that services be offered in languages other...
...about 20% of total sales. "The investments we've made in emerging markets have all reached a critical size," says TCS's Chandrasekaran. TCS discovered that its expansion has opened up new opportunities to lure business from international clients. After struggling to convince Spanish companies to outsource to India, TCS found them much more comfortable outsourcing to the firm's staff in Spanish-speaking Latin America. Business is coming from local companies as well. In early December, TCS launched a currency-trading network for Chinese banks, a project completed for the People's Bank of China...