Two Indian IT services giants, Wipro Systems and HCL Infosys, are targeting Europe in an attempt to expand out of their existing markets.
A host of software companies are also looking for territories outside the US, India?s traditional export market, and are focusing on the UK.
Laxman Badiga, head of Europe and year 2000 business at Wipro Systems, said: ?To grow and become a global IT service provider, we need to move away from total dependence on the US and focus on the fast-growing European market.?
The race for European business has been prompted by confidence in India?s record on offshore development services. A report by the World Bank stated that India was ?the world?s most preferred country for software outsourcing?.
Wipro has already made some moves to correct its bias towards the US, and the UK is a natural favourite.
The company?s projects for IBM UK have been worth about $3 million a year for the past three years. Wipro has 80 employees working for IBM UK on six projects.
In addition, Wipro is looking to develop software for a number of IBM UK?s insurance and utilities clients.
HCL Infosystems will mainly focus on software developments for telecoms and utilities through joint ventures and strategic relationships in Europe and Japan. The company aims to increase production of PCs from 80,000 to 130,000 by the end of the year and hopes to market one million PCs by the turn of the century.
Ajai Chowdhary, president and CEO of HCL, said: ?Our key strategy is to expand into new markets in Europe and Japan. We are holding talks for joint venture proposals and marketing tie-ups.?
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