China IT Sector Still a Tough Market to Acquire: Infosys
"If you look at the Chinese IT industry per se, overall addressable market spending is about $150 billion on the IT space. It is about $14 billion per annum is the addressable space which is not big for Indian firms, he said.
The addressable market size of U.S. market is about $600 billion and the Indian companies reaped more benefits there as they expanded on hardware, he said.
"A lot of homework has to be done to enter into the market. It could be acquisition, joint venture going on your own partnership. Find your own sweet spot and listen to the customer. Fame here does not matter. Prove and do well what he wants to accomplish. Then the customer will listen," he said.
"That is how we are making progress. By working with various Chinese companies we have created references," he said referring to Infosys work with top Chinese diary firm Yily, which it got in a competitive bidding.
Infosys is working with several Chinese brands leaving aside multinationals, Rangarajan said.
(With Agency Inputs)
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