US-based Axtria expects $100 million revenue from India in next 3-5 years

US-based software firm Axtria expects its India revenue to grow multifold to USD 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 USD 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 digitise and run their commercial operations, he added.

India contributes about 5 per cent of its global revenue, he said.

Earlier this month, Axtria opened a new development centre in Bangalore, its third globally. The other two development centres are located in Delhi-NCR and New Jersey.

The company plans to open up two new centres 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 per cent but from a workforce perspective, almost 80 per cent 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. Our hope is 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 provide 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 actually 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.