Saturday, August 10, 2013
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 Business Line
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