Canada’s SOTI to invest $12 million, hire 300 people in India
Canadian information technology firm SOTI Inc. on Thursday said it plans to invest $12 million (around Rs.80 crore) in India and hire 300 people over a period of two years.
“We see India as our centre for Asia Pacific. SOTI is investing $12 million in India on setting up new facility spread over 50,000 square feet in Gurgaon and we will be hiring 300 people more in next two years overexisting base of 110 employees,” SOTI chief executive Carl Rodrigues said on Thursday.
The company provides technology solutions around mobility to enterprise customers and is bullish over growth of Android devices in India and in other Asia Pacific region.
“India has Android dominated mobility market. We specialize in providing solution for businesses on Android based devices. When we started in India, we focused on developing product but revenue in India in last fiscal grew by 50% in line with our global performance. We now focus on opportunities in domestic market as well,” Rodrigues said.
SOTI said around 70% of Fortune 500 companies are its client and demand from Indian businesses has also been growing.
“We expect revenues in India to grow at about the same pace as our global business in the range of 50% at least for next two years. In India the growth may be even higher,” Rodrigues said.
High commissioner of Canada Nadir Patel said that bilateral trade between India and Canada has been growing despite economic challenges worldwide and bucking the global trend.
“If you look at Canadian investment in India, we have seen increase in the range of 300-400% and SOTI is further adding to it. Canadian companies such as SOTI are adding to the Make in India story,” Patel said.
Two-way trade in 2015 reached C$8.2 billion compared to C$6.4 billion in 2014 and C$5.7 billion in 2013, representing an increase of 28% year-on-year.
“We see India as our centre for Asia Pacific. SOTI is investing $12 million in India on setting up new facility spread over 50,000 square feet in Gurgaon and we will be hiring 300 people more in next two years overexisting base of 110 employees,” SOTI chief executive Carl Rodrigues said on Thursday.
The company provides technology solutions around mobility to enterprise customers and is bullish over growth of Android devices in India and in other Asia Pacific region.
“India has Android dominated mobility market. We specialize in providing solution for businesses on Android based devices. When we started in India, we focused on developing product but revenue in India in last fiscal grew by 50% in line with our global performance. We now focus on opportunities in domestic market as well,” Rodrigues said.
SOTI said around 70% of Fortune 500 companies are its client and demand from Indian businesses has also been growing.
“We expect revenues in India to grow at about the same pace as our global business in the range of 50% at least for next two years. In India the growth may be even higher,” Rodrigues said.
High commissioner of Canada Nadir Patel said that bilateral trade between India and Canada has been growing despite economic challenges worldwide and bucking the global trend.
“If you look at Canadian investment in India, we have seen increase in the range of 300-400% and SOTI is further adding to it. Canadian companies such as SOTI are adding to the Make in India story,” Patel said.
Two-way trade in 2015 reached C$8.2 billion compared to C$6.4 billion in 2014 and C$5.7 billion in 2013, representing an increase of 28% year-on-year.
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