CMC, a unit of Tata Consultancy Services, could soon spread its wings into Myanmar and Indonesia, two emerging markets in Asia.
The company has already completed a feasibility study of the Myanmar market, Managing Director and Chief Executive Officer R. Ramanan told Business Line.
‘FINDING RIGHT PARTNER’
“We are evaluating Myanmar as we know there are going to be substantial investments in that country. But again, finding the right partner is important. Like in any country that is in the process of stabilising, there would be lot of unknowns,” said Ramanan.
Officials from CMC were part of a delegation that recently went to that country. In Myanmar, CMC could explore opportunities in its bread and butter capabilities of systems integration and asset-based solutions, analysts say.
India’s investment in Myanmar currently stands at around $275 million. It is expected to soar to over $2 billion in the next few years, given Myanmar’s adoption of democratic reforms in the last two years.
“Myanmar is a highly unusual but promising prospect for businesses and investors — an underdeveloped economy with many advantages, in the heart of the world’s fastest-growing region. Home to 60 million inhabitants (46 million of working age), this Asian nation has abundant natural resources and is close to a market of half a billion people,” Mckinsey Global Institute said in a recent report.
CMC is also weighing opportunities in Indonesia, for its solutions in the mining and minerals space. The company sees traction for mine management and control systems, which are global positioning and sensor-based in Indonesia, said Ramanan. “We help companies with pit-to-port kind of projects, wherein we offer technology support for taking iron ore from a pit and shipping it out from a port,” he added.