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US Fortune 500 software group SunGard is keen on organic growth in the Indian market, especially in anticipation of the government liberalising its stock and share trading sector to permit trade in global shares in the coming years, said a senior company executive.
To further develop business opportunities, SunGard also tracks Indian companies setting up offices outside the country to participate in global stock and share trading, said Mr Fabrice Oriol, the regional sales director of Pennsylvania-based global trading system company Sungard.
“These Indian companies are giving us the opportunities to expand our businesses,” he told PTI on the sidelines of Trade Tech, an exchange-technology conference and exhibition held on November 16-17 in Singapore.
He cited the example of SunGard having supplied its system to India Infoline Ltd when the company became a trading member of the Singapore Stock Exchange two years ago.
“We believe that Indian and Chinese companies will go aboard to set up offices to trade on the global stock markets, for currently they are not allowed to do so from within their own countries,” he said.
Comparatively, SunGard made its entry into the Chinese market through the acquisition of Shanghai-based Shanghai Fudan Kingstar Computer Company in 2006.
However, Mr Oriol does not see an acquisition by the company in India in the foreseeable future, rating attractive Indian technology companies as industry heavyweights and describing small and medium-size enterprises as having niche markets within the Indian market.
Nevertheless, he underlined the importance of both India and China as SunGard’s major markets for growth in Asia while stressing on the importance of expanding within the South-East Asia region.
SunGard has well-established business relationships with the National Stock Exchange and the Bombay Stock Exchange companies, said Singapore-based Mr Oriol, who is responsible for SunGard’s operations and businesses in Singapore, Malaysia, Thailand, Indonesia and India.
SunGard has a business office in Mumbai and a development and support centre in Bangalore as well.
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