Reuters Posted online: Thursday, April 08, 2004 at 1051 hours IST Updated: Friday, April 09, 2004 at 0913 hours IST
Bangalore, April 8: Indian software bellwether Infosys Technologies Ltd said on Thursday it had set up a fully-owned consulting subsidiary in the United States with an initial investment of $20 million and ambitious hiring plans.
Infosys, India's largest listed exporter of software services, said it had hired four key people from leading global consulting companies for the subsidiary, named Infosys Consulting Inc.
Infosys, which has steadily grown from being a provider of low-cost software services to global firms to a giant offering an array of services like business and high-tech consulting and product development, said it was ambitious about the new venture.
"This is a wake-up call to our industry," Stephen Pratt, the new unit's Chief Executive Officer, said in a statement.
"We will offer clients more priced projects, practical ways to increase competitiveness and a much higher return on their consulting dollar."
The statement said Infosys will hire aggressively in the United States for its new unit and said its vision was "ambitious."
The announcement comes against a backdrop of controversy in the United States in an election year over job losses resulting from outsourcing to low-cost locations like India.
Infosys, which counts Eletronic Data Systems Corp and Accenture among its rivals, says it believes in a "global delivery model" under which it will hire workers in places which suit it best for costs and quality, though the bulk of its nearly 25,000-strong workforce is based in India.
Bangalore, April 8: Indian software bellwether Infosys Technologies Ltd said on Thursday it had set up a fully-owned consulting subsidiary in the United States with an initial investment of $20 million and ambitious hiring plans.
