CMC, a unit of Tata Consultancy Services, could soon spread its wings into Myanmar and Indonesia, two emerging markets in Asia.
The company has already completed a feasibility study of the Myanmar
market, Managing Director and Chief Executive Officer R. Ramanan told Business Line.
‘Finding right partner’
“We are evaluating Myanmar as we know there are going to be substantial
investments in that country. But again, finding the right partner is
important. Like in any country that is in the process of stabilising,
there would be lot of unknowns,” said Ramanan.
Officials from CMC were part of a delegation that recently went to that
country. In Myanmar, CMC could explore opportunities in its bread and
butter capabilities of systems integration and asset-based solutions,
analysts say.
India’s investment in Myanmar currently stands at around $275 million.
It is expected to soar to over $2 billion in the next few years, given
Myanmar’s adoption of democratic reforms in the last two years.
“Myanmar is a highly unusual but promising prospect for businesses and
investors — an underdeveloped economy with many advantages, in the heart
of the world's fastest-growing region. Home to 60 million inhabitants
(46 million of working age), this Asian nation has abundant natural
resources and is close to a market of half a billion people,” Mckinsey
Global Institute said in a recent report.
Mine management
CMC is also weighing opportunities in Indonesia, for its solutions in
the mining and minerals space. The company sees traction for mine
management and control systems, which are global positioning and
sensor-based in Indonesia, said Ramanan. “We help companies with
pit-to-port kind of projects, wherein we offer technology support for
taking iron ore from a pit and shipping it out from a port,” he added.
source: The Hindu BusinessLine
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