Infosys Aims To Achieve Half A Billion In Revenue In India In Three Years

Infosys, a technology services giant in Bengaluru, has announced its internal goal to double the revenue in India in 3 years, as per two people knowing about the development, since the IT bellwether sees chances with companies that raise tech spends in this country.

It is known that the revenue of Infosys in India reached nearly US$270 million, accounting for 2.3 percent of the total revenue of the company in the latest fiscal year, according to CN Raghupathy, Senior Vice President of Infosys.

One of two above-mentioned people said that the company’s Indian market is set to reach the size of nearly US$500 mil in around 3 years, which is an internal goal. There are a lot of chances in the country. Infosys refused to give any comments for this.

Boosting the business in India will require a lot of effort like entering other markets, and it also needs a “different bandwidth” to win contracts, said that person. As per the second one when talking about the matter, the company’s target could give it motivation. It is known that Infosys won a contract worth around Rs. 4,200 crore in January from the Income Tax Department for the construction of the 2nd phase of the Integrated E-filing and Centralize Processing Center. The company has already run the CPC for IT department.

Previously, the company won a deal worth Rs. 1,380 crore to build as well as maintain the GST Network, which is a tech backbone for the indirect tax framework of India. Many IT companies are facing challenges in grasping the opportunity of the Indian market due to payment issues, as per analysts.

In addition to lower margins, the payment duration for tech services or the “working capital cycles” are still longer in the country, especially government services, which causes some medium-sized IT companies to less pay attention on the Indian market, as per Apurva Prasad, HDFC Securities’ IT analyst.

Prasad said: