Indian Mid-Sized IT Firms Shift Focus Beyond US, Targeting Growth in Asia and Africa
Indian Mid-Sized IT Companies Eye Expansion Beyond US
Three of India's mid-sized information technology (IT) companies, Persistent Systems Ltd, Hexaware Technologies Ltd, and Firstsource Solutions Ltd, are planning to scale up their business operations and increase hiring outside of the United States. This strategic shift aligns with the trend observed among their larger peers, who are redirecting their focus from the US to other regions, including Europe, Asia, and South Africa.
According to industry trends, the US currently accounts for more than three-fifths of the business revenue of these mid-sized IT companies. However, with the global IT landscape evolving, these companies are now looking to tap into emerging growth markets and diversify their clientele.
| Company | US Business Share |
|---|---|
| Persistent Systems Ltd | > 3/5 |
| Hexaware Technologies Ltd | > 3/5 |
| Firstsource Solutions Ltd | > 3/5 |
This shift in focus is not unique to these mid-sized companies. Their larger peers have been making similar moves, opting to expand their presence in growth markets such as Europe, Asia, and South Africa. By doing so, these companies aim to reduce their dependence on the US market and tap into new opportunities for growth and expansion.
Investor Takeaway
Investors should consider the growth potential of mid-sized IT companies in emerging markets.
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