The Hindu Business Line : Induslogic to host centre for Mantas

INDUSLOGIC, a US and India based outsourced product engineering services provider for over 50 companies, will host an independent development centre for Mantas.

It is scouting for another centre in India to support major expansion plans that could eventually see an investment of $50 million in two years.

The Vice-President of Induslogic, Mr Rajul Garg, told Business Line that this centre for Mantas is one among the several large global corporations in the areas of financial services, technology and wireless applications areas, that the company manages.

For Mantas, the company is handling software product development and behaviour detection technology that covers intelligent analysis of financial data.

The proposed investment of about $40-50 million would be in the growth of overall strength from 800 to 3,000 within two years and in related infrastructure. By the end of this year, Induslogic, which started as a garage set-up, later to be funded by Draper Atlantic, expects to double its India headcount, he said.

The Outsourced Product Development has been identified by Nasscom as a separate category of services that companies are providing for global corporations.

Induslogic is eyeing significant growth prospects. This would mean establishing another centre in India, possibly in south and recruiting in big numbers, Mr Garg said.

As per the Nasscom-McKinsey report, the outsourced product development category is poised to grow to about $8-10 billion by 2008.

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