Indian IT firm plans to expand in Cebu

One of India's largest Information Technology (IT) firms plans to expand in because of the ample supply of highly skilled IT professionals here, this according to Cebu Investment Promotions Center (CIPC).

CIPC managing director Joel Mari S. Yu said that top executives of this Indian firm recently visited Cebu to look for potential sites for its possible expansion here.

Yu, however, declined to mention the identity of the company, upon the request from the Indian-investors.

"Proper announcements will be done, after the Indian group will formalize their expansion plans in Cebu," Yu said.

He mentioned that this company in India, which is into software development, research and development (R&D).

This company employs about 55,000 workers in India, which means if the Cebu expansion will be realized, IT professionals and upcoming IT graduates here will have the opportunity of a high-paying job.

According to Yu, the Indian investors already conducted initial talks with Cebu-based businessmen, and real estate developers who could contract the company to build facilities for them.

The trend now for investors is "build to suit" contract with building and property developers, Yu said.

This Indian company only considered two areas for possible expansion in the Philippines, Metro Manila and Cebu. Hopefully, they will finally settle here, Yu said.

"They [investors] have looked at possible sites in the economic zones, IT Park, South Road Properties, and others," Yu said.

In the next few months, CIPC expects to receive a word from this company.

"The investors spent three days in Cebu for ocular inspection on possible sites," said Yu, adding that the level of interest is very high.

The Cebu Chamber of Commerce and Industry (CCCI) on the other hand, had been touching base with the Indian business community in the last few months, in a bid to make close partnership with India-based companies especially on the IT sector.

CCCI president Francis O. Monera said the only way to make Cebu a legitimate worldwide known IT hub is to partner with India, whose IT sector is already well established.

During the ASEAN Business and Investment Summit held last year in December, CCCI and the Indian Chamber of Commerce were scheduled to sign a Memorandum of Agreement (MOA) for a possible tie-up in Information, Communication Technology (ICT).

However, the planned MOA signing was called off, because of the announcement of the postponement of the ASEAN Summit meeting from December to January.

Monera said key Indian delegates went ahead because of bad weather forecast, thus the scheduled MOA signing was cancelled.