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...fiscal years compared with 29% in the U.S. That's why management at Infosys is targeting a long-term restructuring of the company's revenue base, decreasing the U.S. share from the current 65% to 40%, while raising the proportion coming from the Middle East, Latin America and Asia from about 12% to 20%. "The U.S. continues to grow," says S. Gopalakrishnan, CEO of Infosys, but "we can get higher growth rates in [emerging] markets...
...concept of outsourcing. Unlike CEOs in the U.S., executives in the developing world prefer to manage their technology in-house. The fact that Indian companies are relative unknowns in many parts of the world hasn't helped. Castelli says that one problem marketing the TCS brand name in Latin America has been that tata in Spanish means "daddy." "Nobody knew if we were talking about our father or the company owner or what," Castelli says. "It took time to explain that Tata was an Indian IT company...
...these hurdles are steadily being overcome. Since opening its first emerging-markets operations centers in China and Uruguay in 2002, TCS's annual revenues from Latin America, the Middle East and the Asia-Pacific region have surged from $160 million to $1.2 billion, or 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...
...India's IT giants are charging forward as quickly as they can. TCS is adding some 1,000 people a year in Latin America, where it now employs about 7,200, while in China it intends to nearly quintuple its staff to 5,000 over the next five years. "These emerging countries are now beginning to see the value of outsourcing," says Martha Bejar, Wipro's president of global sales and operations. If so, the future of India's outsourcing sector could prove as bright as its past...
Although on Dec. 21 Mexico City became the first Latin American metropolis to vote to legalize same-sex marriage, two Argentines led the charge to the altar. On Dec. 28, Jose Maria Di Bello and Alex Freyre became the first gay couple in Latin America to wed. Because Argentina's constitution does not declare that marriage must be between a man and a woman, the men asked for and were granted special permission from the governor of the southern province of Tierra del Fuego, to which they traveled to be pronounced husband and husband...