Indian IT cos need to take Chinese competitors seriously: HCL

NEW DELHI: HCL Technologies CEO Vineet Nayar said Indian IT players should take their Chinese competitors seriously, as low-cost labour will make the neighbouring nation more competitive in coming years.

"China would pose a serious challenge to Indian IT companies over the next five years because of the low labour cost in that country," Nayar said here.

Nayar said, however, that China could prove to be a window of immense opportunity for Indian IT firms willing to take advantage by setting up shop in that country and engaging Chinese employees.

The company already has a presence in China, having set up a development centre with a seating capacity of 150 employees in 2007.

HCL Technologies, a $2.3 bn company with a workforce of 54,443 professionals, is operational in 26 countries.