New Delhi, Oct 26 (UNI) Country's top software exporter Tata Consultancy Services Ltd today said it will launch a new subsidiary in South Africa.
''We see South Africa as a key strategic market for TCS and also as a gateway to southern and central Africa. Through our own subsidiary, we will be well-placed to contribute to the economic growth of the country and its businesses by bringing in global best-practices and world-class technology solutions,''company's Chief Executive Officer and MD S Ramadorai said in a statement.
South Africa is a key strategic market for the 29-billion-dollar Tata Group with the presence of multiple firms, including Tata Motors, Tata Steel and VSNL. The new subsidiary will help intensify this focus further and is in line with TCS global strategy to have a direct presence in the countries in which it operates.
''The new model will help TCS make a greater contribution to the South African economy and help invest in skills and capabilities of its IT professionals by leveraging our world-class learning and development programs,'' Mr Ramadorai added.
The new subsidiary will help the company bring its global best practices to help increase the competitiveness of South African business and the skill levels of IT professionals in South Africa.
TCS South Africa will have equity participation from BEE (Black Economic Empowerment) groups in South Africa to ensure a high level of social governance and localisation of services and skills.