Founded in 1968, TCS is one of the IT services powerhouses in India. Not content with its success in India, the company has recently indicated interest in establishing its footprint in China.
In July, TCS set up a joint venture with Microsoft and three Chinese partners to provide outsourcing services to the international market.
The move does not come as a surprise. While China has lagged India in IT outsourcing, the Chinese are fast catching up with a rising pool of computer-literate workers. While they may not be as creative as their Indian counterparts, they are certainly a cheaper workforce to employ. India's rising IT salaries are fast becoming a bane to the country's competitive edge.
TCS plans to expand its Chinese workforce from 400 to almost 6,000 within five years. Globally, the company also wants to add over 30,000 employees to its 62,000-strong headcount by next April.
The company's net income for fiscal 2006 jumped 41.2 percent to US$649.2 million, over fiscal 2005. Revenue also grew 36.3 percent over the previous year to nearly US$3 billion.