The engineering and R&D services division of HCL Technologies will be expanding further into Europe and Japan by opening additional centres as India?s fourth-largest IT services exporter looks to capture greater share in the global technology products outsourcing market.
Talking to FE, HCL Technologies president (engineering and R&D services) GH Rao said, ?There is good traction in Europe, Japan, and we need to have more feet on the ground to tap further into this raw market.?
The markets of Europe and Japan is home to some of the leading product companies. The engineering and R&D services division, which contributes around 18% of HCL Technologies revenue, is witnessing a growing momentum from various businesses that are interested in partnering for product development and innovation.
This business segment of HCL Technologies for the quarter ended September had a sequential growth of 1.4%, which was much lower than the company?s average of 3.5%. However, Rao said that their business was not a one or two quarter phenomena as they are engaged in long term relationships.