India's largest IT company Tata Consultancy Services will consider acquisitions in Europe and plans to increase headcount at its Latin American and Chinese operations to 1,000.
"We will look at it," TCS executive vice president Pheroz Vandrewala said when asked if the company is looking at acquisitions in Europe.
Earlier, addressing a seminar at Indian Institute of Foreign Trade in New Delhi he said there were limits to organic growth in Europe due to environmental constraints.
"To go ahead in Europe relatively significant acquisitions will have to be made," Vandrevala said.
"Big European companies have built significant internal IT organisations which also take up some outside work. But very few of them are profitable. As Europe wakes up there will be big opportunities and many companies will like to divest their IT organisations," he said.
Vandrevala said TCS was also planning to increase stake at its Chinese and Latin American operations to 1,000 by March 2005 from 700 at present. In Latin America TCS has operations in Brazil and Uruguay, while in China it is operating from two locations.
He said TCS entered China to service its global clients but it also sees an opportunity in rapidly growing Chinese IT market. The company also plans to use its China base to move into Korea and Japan, the second largest IT market in the world.