Wipro to Tap New Outsourcing Markets

Wipro is trying to make inroads in industries such as health care, utilities and media, where its customer base has traditionally been small

 

Wipro Technologies says it is working to add customers in untapped industries and developing markets to maintain growth during the economic downturn, said Joint Chief Executive Girish Paranjpe.

 

The technology arm of conglomerate Wipro Ltd., India's second-largest outsourcer by sales, is trying to make inroads among clients in industries such as health care, utilities and media, where its customer base has traditionally been small, Mr. Paranjpe said in an interview Monday. At the same time, it is expanding its presence in emerging economies like China, India and Brazil.

 

"We think there is opportunity there," he said, adding that the Bangalore-based company plans to invest in China to expand staff and is conducting a market-development study for Latin America.

 

The outsourcing industry is under pressure to find new channels for growth amid a recession that has cut many of its traditional revenue streams in developed markets. For nearly a decade, over 80% of outsourcing revenue came from customers concentrated in the U.S., the U.K. and Europe, much of it from financial services.

 

Source: Wall Street Journal