Indian IT Giant-under-a-reformatory phase, Infosys, today announced that it will be opening up a new campus in China (via TOI), which will be its first campus outside India. For its first overseas campus, the company is planning to spend about $120 million.
It will be established in Guizhou province of China with an aim to focus on Chinese and global markets. It is expected to staff about 4,500 people on the campus and will be ready by the end of next year.
A Memorandum of Understanding (MoU) in this regard has been signed between Infosys and the local Chinese provincial government at the India-China Business Forum. The forum was address by Narendra Modi during his recent visit to the northern neighbour.
Vishal Sikka, CEO of Infosys, said,
Infosys is the largest Indian IT employer in China with about 4,000 employees. We are now looking to ramp up our infrastructure and within 18 months, hope to have 10,000 employees there.
Infosys is one of India’s biggest traditional IT companies, that provides services like business consulting, information technology, software engineering and outsourcing. It was co-founded by Narayan Murthy, Nandan Nilekani, N. S. Raghavan, S. Gopalakrishnan, S. D. Shibulal, K. Dinesh and Ashok Arora in 1981.
It is the second-largest India-based IT services company by 2014 revenues. As on 15 February 2015, its market capitalisation was $42.51 billion, making it India’s sixth largest publicly traded company. It has more than 890 clients across 50 countries.
With ‘massive growth opportunity’ in China, Infosys is hoping to increase its revenues in China from USD 120 million to USD 1 billion over the next few years.
While the new Infosys development centre is taking shape as India is pressing China to open its markets for Indian IT firms, it may also be a part of the much broader, reformatory exercise which Vishal Sikka is currently pursuing in Infosys