BIZCHINA / Overseas Investment
Indian IT firm joins expansion on mainland
(Shanghai Daily)
Updated: 2006-05-30 14:28
Satyam Computer, India's fourth-biggest information technology services
company, will invest about US$60 million by 2008 in China to increase
staff tenfold and expand its reach to more cities, Satyam China's chief
said in an interview yesterday.
Satyam is the latest Indian-based IT service firm to announce expansion
in China, following Tata Constancy Service and Infosys.
Satyam plans to hire 3,000 people in China by the end of 2008 compared
with about 300 at present. Eighty percent of the new staff will be based
in second- or third-tier cities, Raghvendra Tripathi, Satyam China's
chief, told Shanghai Daily.
"We will carry out some moves like Shanghai to Hangzhou to avoid wage
hikes," said Tripathi, who expects Satyam's China revenue to double to
US$10 million in the next fiscal year, which ends on March 31, 2007.
Satyam now has research centers in Dalian, Shanghai and a newly opened
facility in Guangzhou.
Satyam, whose revenue surpassed US$1 billion in the last fiscal year, is
one of India's big-four IT outsourcing companies along with TCS, Infosys
and Wipro.
No. 2 Infosys said it will hire as many as 10,000 people in China in the
next three years. TCS has signed agreements with Microsoft and three
Chinese firms to set up a software joint venture.
Indian firms are flooding into China to take advantage of its
comparatively low labor costs.
Average salaries in India are forecast to rise more than 11 percent this
year.
(For more biz stories, please visit Industry Updates)
Most Popular Stories in 48 Hours
� Luxury cars are big boys' toys
� Full speed ahead for Shanghai express
� Godfather of information industry
� Individual gold transactions in China brisk
� China closes over 2,600 enterprises
Today's Top News
� Official: SCO not an eastern version of NATO
� 9.5 million sit college exam this year
� Tianjin gets the nod for new-area plan
� Malformed baby has third arm removed
� Doctors remove third arm from boy
Top Biz News
� BOC gears up for largest mainland IPO
� Central bank denies issuing 500-yuan notes
� Over 60% of land use in Chinese cities illegal
� Wen, Merkel discuss nuclear issue by phone
� Nuke fusion reactor gives a headstart
Alibaba is the largest B2B marketplace in the world. Source model ship,
wooden puzzle, one-piece toilet, RC hovercraft, photo album, prom dress,
pocket bike, Vaginal Speculum, Samurai Sword, String Panty and PVC Pipe.
Learn Chinese
No comments:
Post a Comment