IT major Infosys is set to grow its Indian business to $1 billion in the next four years with equal contribution from both the private and the government sectors.
After tasting success with its IT outsourcing model, Infosys is bullish on its growth prospects in India on the back of increased IT usage in Government departments and public sector enterprises.
Bets on India biz
Infosys’ Vice-President & Head for India Business Raghu Cavale told
The Indian arm set up in 2008 recently bagged an IT outsourcing and consulting deal with India Post and another deal from the Income Tax Department for its electronic TDS division.
Currently, Infosys’ India operations contribute two per cent of its $7-billion revenues but considers India one of its key emerging markets. This importance can be gauged from the fact that Infosys’ India business is one of the four verticals within Infosys that reports to the board directly.
Currently, the Government contributes 70 per cent of the total revenues of Infosys’ India business and the private sector the rest. “We will strive for getting business from both the sectors on a 50:50 basis,” Cavale said.
Key areas
The company sees increasing business coming from government, energy and utilities and the Indian banking sector. “Areas like financial inclusion, smart grid metering and public finances are where we see huge opportunities,” Cavale said.
The company has booked orders worth Rs 2,000 crore and has bid for Rs 1,000 crore worth deals from various Indian institutions.
As a part of the financial inclusion initiative, Infosys has partnered with Airtel Money to provide mobile wallet service. The company is talking to other power utility companies in other States, apart from Karnataka and Rajasthan, says Cavale.