If work gets very complex then India is the place to be delivering from: Genpact's Tiger Tyagarajan

<i>Genpact, one of the biggest business process management and services companies in India, says the work done out of India serves a majority of its markets and industry verticals all across the world, even as the company continues to work closely with GE, from which it was spun off in 2005, handling businesses across the core industrial GE businesses as well as its capital markets, CEO NV 'Tiger' Tyagarajan , told <b>ET</b> in an interaction.

Edited excerpts</i>:<br>
<b>How is the India Genpact business doing?</b><br>We don’t measure the business as the India Genpact business. We run our business by industry verticals, we have delivery centres across different parts of the world.

India has a very big delivery centre.

A material 60 per cent plus of the population of the company and the work gets delivered from India. It is still a large component of our delivery but geography for us is markets.

<b>What are your main markets?</b><br>We define geography as markets where our clients are. So US, UK, Australia, Japan, Continental Europe, Nordics— those are the markets we're focused on.

<b>What kind of work gets done from India?</b><br>India continues to be a very significant delivery centre for all businesses.

Clearly India serves two types of capabilities— India has the deepest English language capabilities. It has 45,000 plus (people). The other capability it has is if the work gets very complex—highly analytical work, heavy CPA and chartered accountant dependent work, heavy science, and scientists and PhDs, and data scientist dependent work, high end digital and technology driven work, then again India is the place to be delivering from. What percentage of the business is voice services? We do very little voice. Of our total business, less than 10 per cent is voice.

<b>Apart from the ones you mentioned, are you looking at entering new markets?</b><br>No. My fundamental philosophy in life is focus, I think you achieve big things in life only when you focus.

<b>What about the Headstrong acquisition? How did it help Genpact?</b><br>The Headstrong acquisition allowed us to set up a new vertical, which is capital markets. We did the acquisition in 2011, and capital markets vertical is one of our nine verticals now. Off late, the capital markets business itself has undergone significant change. All the capital market players have restructured, continue to restructure. They've significantly brought down spends.

Part of the reason our growth is lower than what we had thought is because of capital markets and healthcare, because of the merger of a number of healthcare payers. But healthcare is a smaller business.

<b>How do you interact with GE?</b><br>Our business with GE has remained broadly up 2-3 per cent, down 2-3 per cent ,every year for the last 2-3 years. That is because we're highly penetrated. Our growth is driven by GE's own growth. In the recent year and a half, GE has divested a number of GE capital businesses, and we entered new contracts with new buyers of those GE businesses. So that becomes a new business. The core industrial businesses of GE are actually doing well. But it is still 1-2 per cent growth because we are deeply penetrated. The type of work we do continues to change as the older work gets digitised, automated.

<b>Do you work with startups?</b><br>Between the digital teams in Bangalore and Palo Alto, we work with a lot of startups which are actually innovating in the technology spaces that align with our services. In a few cases, we think it is the right one to acquire. We acquired Endeavour Software (2015) where the business was basically started by four IIT Kanpur engineers in the early 2000s, was focused on mobile technologies and services. We also recently acquired PNMsoft, headquartered in Tel Aviv Israel, and does dynamic workflow. So we do acquisitions, we do partnerships.

<b>Would you do another Headstrong to open up a new market for you? </b><br>We could. We keep looking. We have a strong M&A team and they're only focused on looking for things.