TCS kicks off China venture

Tata Consultancy Services (TCS) and its Chinese partners"" Beijing Zhongguancun Software Park Development, Uniware and the Tianjin Huayuan Software Area Construction and Development Co"" supported by the National Development and Reforms Commission (NDRC), inaugurated TCS China at its new premises at Z-Park in Beijing.

TCS China is the only of its kind JV in China and is being supported by NDRC and signals the official launch of China's first large-scale outsourcing technology company.

TCS also announced that it had won a significant multi-million dollar contract to implement a comprehensive international trading system for China Foreign Exchange Trade System (CFETS), a sub-institution of the People's Bank of China.

Ramadorai, CEO and MD, TCS said, "The JV will help to create a large scale global offshoring base in China and domestic business of increasing scale. We look forward to working closely with our Chinese partners, supported by the National Development and Reforms Commission to meet the expectations of our shareholders and customers."

TCS Asia Pacific owns majority of the JV with a 65 per cent stake.

The three Chinese partners, supported by NDRC hold 25 per cent with Microsoft expected to take up the remaining 10 per cent.