TCS - New Joint Venture in China
February 13, Tata Consultancy Services (TCS) announced the inauguration of TCS China at its new premises in Beijing. The new joint venture, christened Tata Consultancy Services (China) Co. Ltd. is located in China’s largest software park in Beijing’s Zhongguancun.
Tata Consultancy Services, India’s largest IT consulting organisation and its Chinese partners commenced a joint venture in China to expand its global operations and also announced securing “a significant multi-million dollar” contract in China.
Tata Consultancy Services said that it had won a significant multi-million dollar contract to implement a comprehensive international trading system for China Foreign Exchange Trade System (CFETS), which is a sub institution of the People’s Bank of China.
S.Ramadorai, CEO and MD of Tata Consultancy Services said that TCS had completed five years in China and the new joint venture is the next step in their long journey in China. As disclosed by Ramadorai it is expected that Microsoft would be taking up 10 percent stake at a later stage of the Joint Venture.
TCS plans to start its partnership operations in China with at least 5,000 consultants in the next five years. Ramadorai said it would help to create a large scale global off-shorting base in China and domestic business of increasing scale.
The sectors like financial services, manufacturing, telecom as well as government sector, providing IT outsourcing services and solutions would be focused by the TCS China partnership. The joint venture will also leverage experience and resources of the Chinese partners that run the national software development parks.
