TCS sees two-fold sales augmentation in Latin America

Perked up by excellent first quarter (April 1, 2010 – June 30, 2010) results, the largest software services exporter in India, Tata Consultancy Services Ltd (TCS) has announced that it is expecting the company’s sales in Latin America to increase two-fold by 2015.

Owned by India’s top most business firm providing consulting, information technology and business process outsourcing services in as many as seven Latin American nations, including Brazil, Argentina, Chile, Mexico, Uruguay, Peru and Ecuador, TCS made this announcement as the Indian tech firm focuses on one of the rapidly economically developing regions globally. According to a forecast by the International Monetary Fund (IMF), this region is expected to develop by around seven per cent during the current year.

A financial news website quotes an interview by TCS manager (Chile, Peru and Ecuador) Alejandro Valenzuela in a news agency saying that the company sees a highly belligerent growth in the Latin American region and desires to increase the sales to be in excess of $1 billion during the next five years. Valenzuela further said that the Latin American region was of great importance to TCS since its economic growth rate is one of the fastest in the world.

A report made public by IMF states that the economy in Brazil, a member of the BRIC (Brazil-India-Russia-China) group and a regional giant, is among the major promising markets, including China, India, Russia and Peru. According to Valenzuela, the financial industry is at the core of Tata Consultancy Services’ operations in the Latin American region.

Substantiating his comment, Alejandro Valenzuela said that TCS considered the financial sector in the region to be most pertinent since it involves exhaustive use of technology. He, however, added that the leading Indian tech firm was also seeking openings in the retail as well as the mining sectors in the region. In fact, Tata Consultancy Services, which has recently ventured out in Peru seeking clients in the mining industry, has already won clients, such as Xstrata Plc. Software, and is rapidly growing in the Asian and Latin American markets.