TCS celebrates first anniversary of its operations in China
By Mumbai: | 02 Jul 2003
Mumbai: Tata Consultancy Services (TCS), one of the world's largest software and services consulting organisations and India's first global billion-dollar IT company, has announced the first anniversary of its operations in China.
This comes on the back of a strong financial year, where TCS grew by over 20 per cent to post $1.04 billion in revenues for its financial year ending 31 March 2003.
TCS established its China operations in June 2002 as part of a strategic plan to bolster its presence in the Asia Pacific region. Today, it has offices in Shanghai and Beijing as well as a software development centre in Hangzhou. TCS currently employs nearly 100 IT professionals, 80 per cent of whom are Chinese locals.
Says Girija Pande, regional director for TCS in the Asia Pacific, and chairman of Tata Information Technology (Shanghai): "Since establishing operations in China in 2002, TCS has made inroads into various market segments, including manufacturing, telecommunications and the financial services industries. We will continue to expand our workforce substantially by the end of 2003 to support our continued growth."
Explaining TCS' recipe for success, he adds: "With the vast expertise that we have garnered from working with more than 1,000 clients in 53 countries, TCS' strength lies in its ability to deliver world-class solutions at competitive cost. This puts us in an ideal position to meet the growing demand for software and IT services by both local and global companies in China."
TCS' other milestones in China include:
- Established a wholly owned foreign entity (WOFE) in China in June 2002, to support its multinational customers in the North Asia region
- First Indian IT company to set up a WOFE for software development
- TCS CEO S Ramadorai named honorary IT consultant to the city of Qingdao
- Formed alliances with Zoom Networks, a leading IT and telecommunications service provider, and eBis, a leading financial services provider
- Signed new contracts worth $20 million and recently completed an IT architecture project for Shenzhen Development Bank
TCS provides innovative and best-in-class consulting, IT solutions and services to help customers achieve their business objectives. A cumulative experience of more than 1,000,000 person years across diverse technology areas and business domains enables TCS to be the IT services provider of choice by more than 1,000 clients across 53 countries.
