TCS to increase its strength in china
New Delhi: TCS plans to increase its workforce in China by four times over the next five years. The software export major plans to increase its China staff to 5,000 by 2014 from 1,100 currently, said a senior official from the company.
According to a report by the Wall Street Journal, Chinese companies are now more open to outsourcing and many of them will be looking for support in information technology outsourcing services as they globalise. TCS reportedly entered the Chinese market in 2002.
Also, TCS holds about 66 percent stake in a joint venture company named TCS China, which it formed with three Chinese companies in 2006. TCS has four global delivery centers in China, including Beijing, Hangzhou, Shanghai and Tianjin. The company's sales office is located at Shenzhen. The company's clients in China include several of the country's big names in the financial world, like Bank of China, Ping An Insurance (Group), Huaxia Bank and China Foreign Exchange Trade System, a unit of People's Bank of China. TCS's multinational clients in the country included Motorola and Johnson Controls.
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