TCS goes deeper in Indian domestic market – will develop systems for NSDL
SOURCE: LiveMint
DATE: August 29th, 2008
Mohit Soapbox:
TCS is working actively to penetrate the Indian domestic markets and create a presence locally in India. Over the past month TCS has announced relationship with Apollo Hospital (LINK), Partnering with Power Ministry , Launch Passport Seva Service.
TCS is also looking for a large acquisition ( Citibank BPO in India) as their competitors in IT/BPO space continue to look at inorganic ways to grow. TCS does have a local subsidary CMC which is working with Indian clients.
How big is the Indian domestic market ? Not as large as the US/European market but a growing market . This is what
Knowledge at Wharton believe it is (June, 2008):
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India’s economy is growing too fast for any industry not to want to share in its growth. From less than $100 million in 2002, BPO demand in the domestic market grew to $1.1 billion in 2007. In the last year, it is estimated to have grown to between $1.6 billion and $1.8 billion. The Nasscom-Everest study estimates the potential addressable market at around $15 billion to $20 billion over the next five years. Realizing even half of this potential would be significant.
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ARTICLE
Tata Consultancy Services (TCS) said that it has developed a new system for National Securities Depository Ltd (NSDL) that will enable the latter to maintain pension records.
“In partnership with NSDL, we have built a pension record system in just six months that is capable of scaling up to meet the needs of this fast-growing economy,” TCS CEO and Managing Director S Ramadorai said.
In a filing to the Bombay Stock Exchange (BSE), the company said the new system would be the central record keeping agency for the government of India’s New Pension System.
The benchmark for the new pensions record system are high. It has been built to ensure high availability with disaster recovery. Security has been given primary importance in the system with role—based access controls and public key infrastructure—based solution, the filing added.
Shares of the TCS were trading at Rs811, up 2.29% on the BSE in afternoon trade.
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