TCS decides to step into Peruvian market
India’s largest IT services firm Tata Consultancy Services (TCS) has announced its plans to step into the Peruvian market with a view to offer information technology, business process outsourcing and consulting services. Quoting a release issued by the Indian tech firm, a website reports that the company intends to enter Peru’s market through the Pacifico cluster.
According to TCS Manager for Chile, Peru and Ecuador Alejandro Valenzuela, the Indian tech firm has taken the decision to enter the Peruvian market keeping in view the global significance assumed by this market recently. Substantiating his company’s decision, Valenzuela said that Peru’s economy has witnessed one of the most stupendous growths in Latin America and his has, in turn, increased the demand for IT and BPO services.
Describing the launch of the TCS office in Peru as a landmark for the IT industry in the Latin American region, the Valenzuela said that his firm already has offices operation in other countries in the region, including Brazil, Columbia, Mexico, Argentina, Uruguay, Chile and Ecuador. Although the investment made by TCS to open its new office in Peru is relatively small, the company anticipates the sales in this Latin American country to be around $2 million during the first year of its operations.
Valenzuela said that TCS was keen on expanding its operations rapidly in Peru and did not rule out the possibility of adopting an inorganic route for growth. According to him, TCS may well acquire an existing tech firm in Peru to accelerate its growth in the country. At the same time, citing the example of Chile, he also envisaged that a number of other top companies of the Tata conglomerate, such as Tata Motors, may be the next company from the group to open office in Peru.
Meanwhile, buoyed by a 24.3 per cent increase in net profit for the first quarter of the 2010-2011 fiscal, TCS, India’s largest software exporter, has announced that it would hire approximately 40,000 new professionals worldwide during the current fiscal year. It is expected that much of the new recruitments would be made for the tech firm’s onshore and nearshore operations.