Axtria expects $100 mn revenue from India in next 3-5 years

US-based software firm Axtria expects its India revenue to grow multifold to $100 million in the next three to five years as more domestic companies are opting for modern technology tools, a senior company official has said.

Axtria CEO Jaswinder Chadha said the company also expects to more than double its headcount in India in the next 2-3 years.

''At present, both India and China are one of the fastest-growing segments. I could see that India business could easily grow to $50 to 100 million over the next three to five years,'' Chadha said.

There is a very strong demand in the Indian market for data analytics and cloud software to digitize and run their commercial operations, he added.

India contributes about 5 percent of its global revenue, he said. Earlier this month, Axtria opened a new development center in Bangalore, it's third globally. The other two development centers are located in Delhi-NCR and New Jersey.

The company plans to open up two new centers in Hyderabad and Pune, with 500 employees each. ''From a revenue perspective, India contributes a very small percentage of the revenue, I would say it's probably less than 5 percent but from a workforce perspective, almost 80 percent of our employees are in India,'' Chadha said. He said that the company's customers are spread across the US, UK, western Europe, France, Germany, Switzerland, and Japan, and it helps them run their operations in over 100 countries.

The company has around 2,500 employees globally. ''Today, we have over 2,000 people in India. We hope that in the next two to three years, they will go to 4,000 to 5,000 people,'' Chadha said. He noted that the team in India is involved in product development and provides data analytics and data management. It also runs commercial operations management services to customers globally.

''The demand for our software products and our services has been very high and it's been accelerated during the COVID-19. India is one of the largest talent pools that is available...whether it is for doing data management, data science, artificial intelligence, machine learning, predictive analytics, and providing managed services to customers. This is the reason why we are expanding our footprint in India,'' Chadha said.

(With PTI inputs)

Published on: Tuesday, March 22, 2022, 01:33 PM IST