Financial Daily from THE HINDU group of publications
Wednesday, Oct 26, 2005
Financial Daily from THE HINDU group of publications Wednesday, Oct 26, 2005 |
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Corporate
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Announcements Ashok Leyland to hire 100 people for EDS unit M. Ramesh
Chennai , Oct. 25 ASHOK Leyland intends to hire around 100 people for its newly formed engineering and design services division. The team will be in place by next year and "that is just to give a shape to it," Mr R. Seshasayee, Managing Director of the company, told Business Line today. The division is to function as a brand-neutral engineering and design unit, offering its services to the market. Sources in Ashok Leyland said that at least four companies were talking to it for its services, including a Japanese company and BHEL. Meeting the demand for automotive engineering & design services outsourcing is a growing business in India and is estimated to be worth around $300 million at present. About 7,000 professionals are engaged in this effort. At the `International Mobility Engineering Congress & Exposition' today, which is an event to showcase India's technology in the automotive field held by SAE India, Mr Gopal Srinivasan, Director, TVS Electronics and Harita Infoserve, said India had "a mature auto component industry and a mature IT industry". Thus, the country was well positioned to cater to the growing demand for automotive engineering and design services. A number of Indian companies, such as Ashok Leyland and Mahindra & Mahindra, have set up EDS divisions to capture the market for these services. Mr Seshasayee said Ashok Leyland had given up the idea of setting up a new company for trading in used trucks. Instead, the company would "support" its dealers who would want to do that, he said.
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