India's largest IT services firm Tata Consultancy Services is eyeing the 'major transformation' in China's banking and financial services sector to tap the market for its services and products.
"China will go through a major transformation of its banking, financial services and insurance (BFSI) sector. It is a huge opportunity for TCS that has global expertise and we certainly want to participate," TCS CEO S Ramadorai told reporters in Bangalore after a visit by Chinese Premier Wen Jiabao to the TCS facility in the International Technology Park.
TCS, the first Indian software firm to set up base in China in June 2002, employs 200 professionals, majority of them Chinese, at its global development centre at Hangzhuo.
He said the BFSI software products by TCS were being developed in Chinese language for local customers.
TCS China Country Manager V Rajanna said the China unit had three objectives - a centre for global customers; for regional countries in Asia Pacific and the domestic market.
"In the last two years, we have laid a strong foundation in China for our global and regional operations. We are working with number of domestic software companies," Ramadorai said, but declined to name the local firms.
He said TCS also would explore bundling its software with hardware by Chinese firms to develop products for global customers. "There are opportunities and several Chinese firms are talking to us".
Ramadorai declined to specify a roadmap for the Chinese unit, but said new centres would be added in future.