Expanding its operations in China, Indian technology major Infosys today unveiled a master plan to build a development centre in Shanghai with an investment of about $120 million to tap the burgeoning Chinese market. Also Read - Work from home: Here is a look at TCS and Infosys' long-term plan
The master plan for the development centre was unveiled in the presence of Infosys CEO Vishal Sikka at the India-China Business Forum, which was addressed by Prime Minister Narendra Modi in Shanghai. The development centre with a staff capacity of about 4,500 will help to focus on Chinese and global markets, Rangarajan Vellamore, CEO, Infosys, China told PTI. Also Read - Infosys has just launched a learning app for engineering students
The Shanghai campus is the first Infosys-owned overseas campus and will be ready by next year, he said. The IT major also signed an MOU with China’s Guizhou provincial government for exploring business expansion in the province, he said. This will help to capture the growth trends of Chinese markets for Infosys China, whose annual turnover is around $120 million. Also Read - Reliance Jio, Infosys to set up projects in Bengal's proposed silicon valley hub
The new Infosys centre is taking shape as India is pressing China to open its markets for Indian IT firms to address the $48 billion trade deficit in the bilateral trade, which stood at $70.6 billion last year. The issue figured prominently in Modi’s talks with Chinese leadership during his three-day visit to the country.