Targeting the unfurling SMEs segment of India, Tata Consultancy Services (TCS), one of country’s largest software companies, now targets a four-fold jump in the number of SME clients to 1,000 by the end of this fiscal year.
At present, TCS has more than 240 customers in the SME segment across the country.
Commenting on TCS’ focus on the potential rich Indian SMEs, Venguswamy Ramaswamy TCS Global Head (iON) stated “About 60 per cent of SMEs in India still do not have an ICT infrastructure in place. The SME sector in India has a huge potential. And 'iON' as a solution is designed specifically to meet the needs of this segment.”
He added that the company is eyeing USD 1 billion in revenues from iON in the next five years.
"We currently have over 240 customers for iON and we would like to increase it to over 1,000 this year," Ramaswamy said adding that TCS is targeting verticals like retail, textile, education, manufacturing, wellness and professional services.
Ramaswamy said technology absorption by Indian SMEs is on the rise and the market is set to grow to USD 48.5 billion by 2015 from the present USD 11.9 billion.
He added that emerging economies are "bright spots" since there are no competing products in these markets.