Infosys hopes huge business from Latin America

Infosys Technologies, the country's second-largest software exporter, expects that the Latin American region, which contributed 63.2 per cent of its revenue in the previous fiscal, would be among the fastest growing markets for the company.

"We expect the Latin American region to be among the fastest growing market for us," Infosys Chief Executive Officer and Managing Director S Gopalakrishnan was quoted as saying in the company's latest annual report.

Infosys closed the fiscal 2009 reporting annual revenues of Rs 21,693 crore, a year-on-year growth of 30 per cent. India contributes only 1.3 per cent to that revenue.

In 2005, Infosys had generated 65.2 per cent of its total revenue from the North American region which came down to 64.8 per cent in 2006 and 63.3 per cent in 2007.

"Our second centre in Monterrey, Mexico will be operational soon," Gopalakrishnan said.

Infosys had started its Mexico operations in August 2007 and established a subsidiary at Monterrey, which serves as a near-shore delivery centre to provide IT and BPO services to its clients and new Latin American clients.

Latin America is a strong emerging market and one where many of Infosys' clients have operations.

The Monterrey facility also strengthens Infosys' global delivery model capabilities and joins other development centres in the Czech Republic, Poland, Thailand, Philippines, China, Australia, Canada and India.

Infosys chose to establish presence in Mexico due to the broad language skills available in the region and its cultural similarities to Canada, the US and Europe.

Infosys and its subsidiaries added 156 clients and 28,231 (gross) employees in fiscal 2009. The number of its million-dollar clients grew from 310 in fiscal 2008 to 327 in fiscal 2009.