22 November 2017
visit www.solutions.lexisnexis.com

Reuters to spend $4m on India growth plan

18 November 2005  |  6421 views  |  0 Reuters Sign

News and information group Reuters is investing around $4 million on a five year plan to scale up its operations in India.

The vendor said earlier this year that it was targeting emerging markets and plans to grow its operations in countries like India and China.

Reuters says its research shows that as India's markets become more sophisticated and international, spending on financial applications will increase by about 35% annually over the next three years to around $266 million.

Alex Hungate, the new MD of Reuters Asia, says: "The combination of strong macro-economic growth plus the steady deregulation of financial markets is creating spectacular growth in India's financial markets."

The news comes as Reuters opens a new facility in Mumbai. The customer sales and support centre will become the headquarters for Reuters in India and will accommodate about 130 staff.

Reuters set up a content production and global service centre in Bangalore in 2003 and now employs about 1200 staff at the facility. The vendor says the number of staff at its India operations is expected to increase by about 60 in 2006.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Reuters shares slip on disappointing Q4 forecasts

Reuters shares slip on disappointing Q4 forecasts

27 October 2005  |  5910 views  |  0 comments
Reuters Bangalore blunder releases market data a day early

Reuters Bangalore blunder releases market data a day early

05 July 2005  |  7449 views  |  0 comments
Reuters releases 3000 Forwards Matching system in India

Reuters releases 3000 Forwards Matching system in India

13 November 2003  |  3418 views  |  0 comments
Reuters to move core content division to India - BBC

Reuters to move core content division to India - BBC

05 August 2003  |  5137 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.capgemini.comvisit www.solutions.lexisnexis.comvisit www.aciworldwide.com

Top topics

Most viewed Most shared
Ripple boss predicts central bank adoption of blockchainRipple boss predicts central bank adoption...
19981 views comments | 31 tweets | 33 linkedin
AmEx partners Ripple and Santander for blockchain-enabled cross-border paymentsAmEx partners Ripple and Santander for blo...
11971 views comments | 15 tweets | 42 linkedin
UK cryptocurrency exchange startup launches debit card for spending bitcoinUK cryptocurrency exchange startup launche...
9700 views comments | 26 tweets | 38 linkedin
Barclays warns of unprecedented online fraud this ChristmasBarclays warns of unprecedented online fra...
9518 views comments | 16 tweets | 33 linkedin
ING brings data privacy to blockchain transactionsING brings data privacy to blockchain tran...
7045 views comments | 22 tweets | 35 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job