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India Wire TCS to invest $110 million to set up new facility
India Wire TCS to invest $110 million to set up new facility | TCS to invest $110 million to set up new facility |
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| by Sufia Tippu | |
| Monday, 12 June 2006 | |
  
 India’s largest software services exporter, Tata Consultancy Services (TCS) will invest $110 million to set up a software development facility at Pune near Mumbai.The company on Saturday signed a memorandum of understanding with the state government of Maharashtra to acquire 50 acres of land for the new project in the special economic zone, promoted by the Maharashtra Industrial Development Corporation (MIDC). At a press conference on Saturday, S. Ramadorai, CEO and managing director, TCS, said the facility will have a capacity of 5,000 seats but this would be expanded to 10,000 later. TCS has over 60,000 employees and is the largest employer in Indian IT services. “We will be recruiting another 9,000 engineers in Maharashtra during the current fiscal year,” Ramadorai said. The facility, in addition to having a software development centre, would also have a team working for the R&D and engineering services group. It will be operational in the next 18-24 months, Ramadorai said. The Maharashtra chief minister, Vilasrao Deshmukh, who was also present at the press conference, said Maharashtra has recognised the "tough competition" from other states in attracting investments. “ We will provide infrastructural and other support including single-window clearance to boost IT industry in the state,” he added. He said the special economic zone (at Hinjewadi) is attracting international attention and a TCS campus in the area would increase the demand for land there and urged the company to extend its operations to other smaller cities so that the pressure on the metros is taken off. {moscomment} |
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