Skyline Global Outsourcing Update

Indias MindTree is looking to grab a bigger share of the multi-billion dollar domestic technology sector, as the software services provider moves to reduce its dependence on the overseas market.The company has already bagged a prestigious contract from the Unique Identification Authority of India, or UIDAI, to play a part in project Aadhaar, which will assign biometric identities to more than one billion people. MindTree will provide software design, development, testing, maintenance and support services to UIDAI.

The company expects to start booking revenue from the contract this quarter, chief executive of information technology services, says Anjan Lahiri."Revenues clearly have started flowing in," Lahiri said, without elaborating. MindTree currently only gets about 6.3% of its revenue from the domestic market, but it is increasingly targeting India for growth as demand for outsourcing services picks up in the country, while major markets--the U.S. and Europe-remain cautious on technology spending.

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The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).