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New Indian investment for SA

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Hot on the heels of the news of Chinese investment in Standard Bank and reports of a possible Chinese tie-up with MTN, Indian industrial giant Tata is increasing its presence in the local market with the opening of Tata Consultancy Services (TCS) South Africa. 

The $29-billion Tata Group views South Africa as a key strategic market and has already set up a number of companies in the country, including Tata Motors, Tata Steel and VSNL.
TCS South Africa has committed to BEE equity participation.
"We see South Africa as a key strategic market for TCS, and also as a gateway to southern and central Africa," says S Ramadorai, CEO and MD of TCS.
"Through our subsidiary, we will be well placed to contribute to the economic growth of the country and its businesses by bringin in global best practices and world-class technology solutions."
N Chandrasekaran, chief operating officer and executive director or TCS, adds: "To help its customers in South Africa, TCS has already created a near-shore delivery capability in Johannesburg from where we are providing support services for our financial services products implemented in South Africa.
"The South African operations will emerge as a hub to serve customers in the southern and central Africa."
TCS already has a number of South African customers across a range of sectors.