Infotech eyes geospatial opportunities in India, Middle East

Hyderabad, May 15 (UNI) Infotech Enterprises Limited has announced today that it took over majority stake in Hyderabad based Geospatial Integrated Solutions Pvt Limited (Geospace Integra) to address geospatial business opportunities in India and the Middle East.

The geospatial market in India and Middle East were estimated at Rs 1000 crore and was expected to see a 12 per cent growth rate over the next five years, a release said.

Open Map Policy of the Indian government and Survey of India's large-scale mapping initiatives were unlocking geospatial opportunities in several areas, including land records, urban planning, environment, forestry and natural resources, utility infrastructure planning and management and defence, it said.

The rapid pace of infrastructure development in the Middle East had led to a growing demand for geospatial services in that region, the release added.

Infotech Chairman and Managing Director B V R Mohan Reddy said, "as we continue to reinforce our leadership position in the global geospatial markets, India and the Middle East become increasingly strategic to our growth objectives. By leveraging the knowledge and experience of Geospace Integra, supported by Chandrasekhar Nori's leadership and we have a compelling value proposition for customers in these markets. We expect to achieve Rs 100 crore revenue in the next three years from our India and Middle East business." UNI JRK VA DS 1903