Finding immense potential in government projects, leading IT company Tata Consultancy Services (TCS) is aiming 10 per cent of its total revenue from these projects in the next three years, besides, adding 25,000 employees this year.
“Currently, our revenue from government projects is very small and we want to raise it to at least 10 per cent of our total revenue in the next three years,” TCS Vice President (Head Global Government Industry Group) Tanmoy Chakrabarty said here today on the sidelines of an E-revolution initiative organized jointly by Punjab, Haryana and Chandigarh.
TCS last year recorded total revenue of $6 billion and it expects to increase it to $10 billion in the next few years. Out of the total revenue, the domestic market has a share of 70 per cent and the rest comes from the global markets, he said.
TCS would also hire 25,000 more people this year to support its ongoing and upcoming projects. “We have an employee strength of 1.45 lakh people and we want to add 25,000 more people this year,” he said.
In the domestic market, the company was developing a Rs 1,000-crore ‘Passport Seva Project’ to provide speedy passport delivery services.
TCS is also looking to tap opportunities to be offered by Unique Identification Database (UID), headed by Infosys former Co-Chairman Nandan Nilekan. “We would like to avail opportunities to be thrown by UID projects although they are still in early stages,” he said.
TCS is also keen to engage in E-Panchayat projects, which are expected to be rolled out by the Ministry of Panchayati Raj.
“The ministry is considering launching E-Panchayats across the country in order to bring transparency and efficiency in the system...we think in the next two years E-panchayats will be a reality,” he said.
Besides looking to capture government projects here, the company is also bullish about government projects in overseas markets.
The company has decided to tap such projects in emerging overseas markets such as China, Middle East, Africa, US, Latin America and South East Asia.
“We will be tapping new overseas markets for carrying out IT projects as there is a huge potential available there which needs to be exploited,” he said.
Currently, the company is carrying out Core Banking solutions project for the world’s largest bank in China. “It is one of the biggest projects for us to launch Core Banking for the Bank of China which has the largest network in the world,” he said.
Moreover, TCS is also in the process of digitizing the taxation process for the government of Uganda.