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Infosys targets 5% revenue from govt contracts
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SME Times News Bureau | 01 Jun, 2010
Infosys Technologies is targeting around five percent of its revenue from government contracts over the next five years and planning to increase the headcount of foreigners in the company by 10 to 15 percent.
"Over the next three to five years revenue from government contracts is expected to be in the region of 3-5 percent of the turnover," S. Gopalakrishnan, chief executive officer and managing director, said in Chennai on Monday.
Speaking to reporters after a press meet held by the Confederation of Indian Industry - Southern Region (CII-SR) of which he is the Chairman, Gopalakrishnan refuted suggestion that Infosys is late in targeting government business whose global market size is around $100 billion.
Infosys last year floated a US-based subsidiary mainly to target government business.
According to Gopalakrishnan, the company's focus areas are healthcare, income tax, land records and others.
On the headcount increase, he said Infosys will be hiring around 30,000 people this fiscal.
The company will hire around 1,000 people in the US over next four quarters.
"The number of foreign nationals working for Infosys will be increased to 15 percent of the total workforce from the current five percent," he said, without mentioning an time frame.
As the company is setting up development centres in Brazil, China and Mexico, hiring locals is necessary to serve the local clients, he added.
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