China 's Beyondsoft to enter Indian market

Mumbai: One of China's leading IT services companies, Beyondsoft Co. Ltd. is planning to enter India's booming IT/BPO segment by the end of the first quarter of fiscal 2007-08. "We are planning to enter India in a very big way in the BPO and ITO (information technology outsourcing) sectors," Jonathan C.Chu, vice president, Beyondsoft, said on the margins of the India Leadership Forum organized by NASSCOM (National Association of Software and Service Companies) in Mumbai. Refusing to give any financial details Chu said, "We are planning to invest several million dollars in Mumbai." The company works for global software giants such as Microsoft, IBM, HP, SAP and Oracle in software development, testing and localization, and it has grown from a small firm of 100 people in 2001 to one of China's major software outsourcing providers.

The $45 million group now employs 800 developers and boasts of headcount of over 1600. "We will open our first unit by the first quarter of the coming fiscal. We plan to hire over 100 people in our first year of operation and our revenue target for the first year would be over $1 million - $2 million," Chu added. "India is a very strategic market for us and we hope to grow in Mumbai. The IT market in Mumbai is more sophisticated and mature whereas Chinese companies are gradually coming up."