Telecom equipment manufacturer ZTE?s IT division, ZTEsoft is likely to invest up to Rs 2.45 billion for setting-up an innovation centre in India in 2014. In addition, the company also plans to hire about 300 employees to ramp-up operations and strengthen its position in the Indian market.
The innovation centre will initially cater to South Asia and India and later serve as a global centre for ZTE. Currently, ZTEsoft manages software services for Bharat Sanchar Nigam Limited in three zones and manages circle operations for Sistema Shyam TeleServices Limited and Idea Cellular in nine and two circles, respectively. Besides, the company has also partnered with Indian IT companies such as Tech Mahindra, Wipro and Tata Consultancy Services for system integration.
Going forward, ZTEsoft expects to double its India revenues from $80 million at the end of December 2012 to $160 million by March 2014.
