Software giant Tata Consultancy Services is thinking big globally and is looking to China to boost its revenue figures over a seven-eight year period, according to S Mahalingam, chief financial officer and executive director, TCS.
India's largest software services exporter grosses less than $100 million from its China business, with a workforce size of 2,000. According to analysts a $10-billion company with 2,38,000 professionals globally falls in the small businesses category.
Mahalingam told the Hindustan Times that the opportunity for software companies in China was so huge, on a long-term basis, it could go even beyond $10 billion. He said the company had identified 2-3 verticals with great potential in the country among which banking, financial service and insurance (BFSI) was the major one.
He said it was first needed to be half a billion dollar business to have a name in the local market.
In markets including China where knowing the local language was an added advantage, 90 per cent of the employees of the company would be locals.
Over 50 per cent of the revenue of TCS comes from the US and 25 per cent from Europe, while the Indian business contributes around 9 per cent to the company's revenues.