New Delhi: Business process outsourcing firm Hinduja Global Solutions (HGS) on Wednesday said it is looking at foraying into the Chinese market by this fiscal-end through a joint venture.
“The market in China has traditionally been that of manufacturing and there is not much of services, the market is still nascent.
“We have been trying to enter the market for three years and hopefully, by the end of this fiscal, we would be able to establish our presence in that market,” HGS Global CEO Partha Desarker told PTI.
The company would enter the Chinese market through a joint venture with a local partner, he added.
“Chinese market is a difficult one. The partner would provide access to local markets, while we would bring in our global expertise to the table,” he said.
HGS is a part of the multi-crore conglomerate Hinduja Group and provides outsourcing solutions through 42 delivery centres in India, US, UK, Canada, Mauritius and Philippines. It is listed on both NSE and BSE.
Talking about growth, Desarker said the balanced revenue stream from various verticals has helped the company against the economic slowdown.
“We have quite a healthy balance in terms of geographies and vertical contribution to our revenues and that has helped us in the economic downturn . Last year, we grew by about 25% and this year we are looking at over 25% growth rate,” he added.
The company has a headcount of about 22,500 people and is looking at adding another 3,000 people this fiscal.
“We have seen healthy growth and are planning to hire another 3,000 people this fiscal,” Desarker said.
HGS provides voice and back office services to clients across verticals like insurance, telecommunications, pharmaceuticals, life sciences, banking and financial services, among others.