Although there is an economic slowdown, Indian outsourcing giant Wipro is getting ready for the new wave in outsourcing to India.
One of its top offiicials, Suresh Vaswani, said the company is eying to expand a niche market in Europe and expand in China. This is seen to be a strategic move by analysts since getting a foothold in China would also improve its business in Japan.
Apart from the revenue growth for the company is seen to be growing in Latin America and the Middle East. This is despite the fact that the Dubai debt crisis has negatively impacted stock markets around the world. Nonetheless, co-CEO of IT business Vaswani says Wipro’s contracts in Dubai are strong deals.
Incidentally, many of the clients in the Gulf hub are in the gas and oil sector and have little exposure to the credit crunch that roiled the financial industry.
In the quarter to September, India and Middle East account for 8.2 percent of total revenue for Wipro. Approximately 50% of Wipro’s business stems from the U.S. despite the looming recession, reports Reuters.