Thomson Reuters eyes Indian market for non-news businesses

PTI Davos | Updated on January 28, 2013 Published on January 28, 2013

Global media and data services major Thomson Reuters is looking at an aggressive expansion plan in India for its data automation technology and information solutions offerings in the financial, legal, tax and automation and intellectual property segments.

The group is targeting the Indian and other markets for these businesses through its Global Growth & Operations (GGO) unit headed by Shanker Ramamurthy as its President.

A chartered accountant by profession, Ramamurthy told PTI in an interview here that his target is to double the size of the GGO business by 2015 and this objective would be achieved by both organic growth and inorganic investments.

“There are broadly professionals in four areas that we cater to — financial services, legal, tax and auditing and lastly science and intellectual property,” he said.

The financial professionals, which include traders, investors and forex dealers are one of the biggest areas of business for the company, while it is looking to expand its scale in other segments as well in India.

For legal professionals, the company is offering services ranging from information to automation technology, while it also sees significant growth opportunity for its tax and auditing and legal services portfolios in the India market.

“In our tax and audit portfolio, we are also looking to help the Governments in their tax collections and in areas like land registration and property management,” Ramamurthy said.

“On the legal side also we are helping automation of court systems in many parts of the world,” he said, adding that GGO was actively involved in the areas of life sciences through its science and intellectual property segment.

This Global Growth and Operations group was created at Thomson Reuters in January 2012 to take advantage of growth markets in broadly these four areas, Ramamurthy said.

“We have about 10,000 employees in India supporting the rest of the world. These people in India are developing software, collating content, helping with workflow and doing original research to support products and capabilities around the world.

“We have around nine operations centres around the world and there are three in India — one each in Bangalore, Hyderabad and Chennai. What we have done is we have brought our growth organisations and our operations together in this GGO,” he said.

According to Ramamurthy, the group is looking at an idea where these 10,000 employees in India, who are supporting its global operations, should also help grow its India business, while similar model would be adopted in some other countries, including China.

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Published on January 28, 2013
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