Mitsui to make India its back office hub

Japan-based Mitsui OSK Lines is planning to make India a major hub for its shipping and back office destination and is looking at a two-fold growth in market share in volume terms from the current 4 per cent.

Launching its second data processing centre in the country here, company vice-chairman Masakazu Yakushiji said, “We would double the market share to 8 per cent in the next 2-3 years.” Currently, it is doing 160,000 TEUs (twenty-foot equivalent units) per year from India.

The growing Chinese and Indian markets would continue to be its major growth destinations. China alone accounts for 40 per cent of Mitsui’s global market share. “We expect higher growth from the Indian market as we are shifting our focus from China to India,” he added.

The shipping and multi-modal transportation company has proposals to launch direct cargo services to the US and European countries from India. This is at present running via Colombo. “We are reviewing the proposed service from Vallarpadam at Kochi,” he added.

The data processing centres at Mumbai and Hyderabad have come up with an investment of $5 million and employ 450 people. The Hyderabad centre would expand its manpower to 500 in the next 2-3 years from the current 250. Around 1,500 Indians are working for the group globally.

Sundeep Sibal, head (West Asia operations), MOL, said, “As the shipping work requires a lot of documentation work, India is emerging as a major hub for our shipping and back office operations.” The Hyderabad centre would connect cargo container services between China and India, he said. The trade between India and China is poised to grow $100 billion by 2015.