HCL aims at a whooping one third revenue from Europe

HCL is aiming high and is close to achieving its target, of obtaining one third of its revenue from Europe. This is at a time when the European debt and sovereign crisis is fretting multinational companies having presence in the country.

According to sources, Europeans for the first time are opening up to outsourcing, because of their uncompetitive cost structures. HCL is cashing on this opportunity, by offering IT solutions across different sector in the region. HCL already gets 28 percent of its revenue from the country.

HCL is now looking at higher revenues from the continent, especially after its acquisition of UK based Axon, worth Rs.800 million US dollars, trusted sources informed.

Europeans are looking at mitigating the cost constraint, by becoming more competitive, with special reference to the manufacturing sector, therefore they are offering Indian IT firms opportunities to provide them solutions to improve their base prices by using technology.

HCL plans to recruit 90% of locals from Europe itself for its expansionist ventures.