CA to Invest $60 Million in India
Upbeat in recession CA, a global IT management software company, will invest $60 million during the current fiscal in its R&D infrastructure management in India. The company is aggressively planning for the expansion of its India Technology Center (ITC), and would employ 1,000 individuals by 2012.
The investment will facilitate CA operational facility in Nanakramguda village, Hyderabad. India is a strategic market for CA, and houses one of the largest R&D centers after the US. One third of the company’s workforce is in India, said Saurabh Srivastava, chairman, CA India.
While India is emerging as one of its significant markets, the company s in-house R&D operations serve around 75 percent of the global market needs.
With the e-governance initiative on move, the CA technology would be vital. The government in India is going to be a significant contributor to our company, as the public sector market has grown drastically - said Srivastava. CA is also bidding for various other projects, but the company did not disclose those details.
Security business is significant to India, and we ll invest in service provisioning market. Besides Australia, Japan and China- India will derive significant business in future, said Gavin Selkirk, corporate senior vice president of CA for Asia Pacific and Japan.
Speaking on merger and acquisition, Selkirk said that the company would continue to look at options for the expansion in product portfolio.
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