Infosys invests away in Europe despite slowdown
Despite the persisting economic crisis in Europe, software services major Infosys plans to step up investments in building capacities in the continent. Vivek Sinha reports.business Updated: Mar 27, 2012 22:05 IST
Despite the persisting economic crisis in Europe, software services major Infosys plans to step up investments in building capacities in the continent. Its agenda includes the setting up new delivery centres and hiring local citizens. Infosys has a long-term goal of garnering around 40% revenues from Europe, compared with the current level of 20% to 23%.
"We are investing and expanding our local delivery centres and expanding our offices in Europe," BG Srinivas, board member and Europe-head for Infosys told HT. "We expect to have three to four new offices across Europe over the next one year." Srinivas refused to divulge further details about the capacity or locations of new centres and said that plans are still on the drawing board.
At present Infosys has 16 delivery centres and offices across Europe. Over the last couple of years the company has been expanding capacity wherein it expanded at its centers in Germany, Paris and Switzerland. It had recently announced to hire around 500 locals over the next 12 to 15 months.
Srinivas said that despite economic concerns in Europe the deal pipeline has been good for the firm. "It's not that there is no business for the company," he said. "Our business plans are still on and we have not pulled back anything." He added that the firm has the aspirational goal of enhancing revenues from Europe.
Financial services, retail, consumer products goods, automotive, energy equipment and industrial goods are the sectors that would offer growth opportunities for the company.