Infosys shifting focus from US to India
Infosys, which gets more than half its business from the United States, plans to generate $1 billion in revenue from the Indian market in 2-3 years versus an insignificant level now. In this process the second largest IT service exporter of India has bid for about 10 large Indian Government’s project. This will reduce its dependence on US market. At present the U.S. market had contributed 63.2 percent of Infosys’s 2008/09 revenue of $4.4 billion, with just 1.3 percent coming from India.
The market for technology and business outsourcing services in India is expected to expand five-fold by 2020 to $100 billion on the back of a growing economy, according to a recent study by NASSCOM and McKinsey. On the basis of this, company is planning to grab the Indian Market aggresively.
Outsourcing firms such as Infosys and bigger rival TCS are tapping new markets such as India, China, Japan and countries in Europe to beat a recession in the United States. However they have to face competition from big global players such as IBM Inc, Hewlett-Packard, and Accenture that have raided their home turf as they look for growth outside their mature markets.
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