LogicaCMG is to hire over 1000 staff in India as it bids to grow its outsourcing market share and ramp up software sales to the Indian and South Asian banking community.
The plans were revealed as the company unveiled a new campus-style facility located at the Technopolis close to Bangalore International Airport. This currently accommodates around 1200 LogicaCMG employees and will have the capability to house around 2200 employees by the end of 2005.
Martin Read, group chief executive, LogicaCMG says: "India is the fastest-growing operation of LogicaCMG worldwide and will be the third largest operation by headcount after the UK and the Netherlands by the end of 2005."
The Bangalore operations are the primary offshore development facility for he group. The company’s outsourcing business represented about a quarter of group revenues in 2004, and it plans to increase this to 30% during 2005.
LogicaCMG’s domestic operation in India have also been on a growth curve. It implemented the Real Time Gross Settlement (RTGS) system for the Reserve Bank of India which went live in March 2004. Reed says the company is now focused on implementing its RTGS-readiness and anti-money laundering software across all the major private and public sector banks in India, as well as further extending its footprint into new territories like Sri Lanka, Bhutan, Bangladesh and Pakistan.