Tata Consultancy Services, the Tata Sons-owned Asia’s largest software services company, plans to increase its workforce by over 4,000 by the end of 2003. Of this, over 2,500 would be absorbed in TCS operations in Bangalore, which focuses mainly in the Banking Finance and System Integration practices, besides VLSI design and engineering services. The company currently has over 21,000 professionals spread across over 107 locations in the world and aims to reach 25,000 by December 2003.

Disclosing this to reporters here on Monday, Tata Consultancy Services vice president and head, Banking Industry Practice,
Mr N.G. Subramaniam said the company would be hiring a substantial number of these professionals for its operations in Bangalore. “We will be touching our staff strength to 5,000 by the end of next year in Bangalore from the present 2,300 professionals,” Mr Subramaniam disclosed.

Incidentally, TCS Bangalore operations would have the #Banking Innovation Centre, that would work on developing new products and applications in the fast growing business opportunity for the IT industry. Nearly 13,000 professionals work in the BFSI segment in TCS across the world. According to Mr Subramaniam, the BFSI segment contributes over 40 per cent to TCS revenues with major clients including GE capital, Bank of America, Visa, Fidelity, State Bank of India utilising its services.

“TCS clearly sees a convergence of financial services in terms of new players entering banking business and banks entering into other areas. Banking business is a focus area for TCS Bangalore and is evolving as TCS Banking innovation centre,” he said.