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May 30, 2012, 12.13 PM IST
CNBC-TV18’s Sunanda Jayaseelan reports, quoting sources that IT bellwether Infosys is placing more bets on the domestic market with global markets seeing a downturn and uncertainity gripping business in India
Recording USD 1 billion in revenues by 2017 is Infosys' target for its India business. And as global uncertainty continues to put a question-mark over solid growth in the European and US markets, Infosys is pulling out all stops for India.
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The project to handle online processing of I-T returns for the Indian government may have had some teething trouble. But Infosys says the project met with success and adds that it has bagged another government the project that entails computerisation of TDS claims.
Raghu Cavale, VP and head, India, Infosys, "We handled 87 lakh applications last year. Our target is to handle 1.6 crore applications this year and 2 crore applications next year. The number of outstanding claims is down from 14% to 3%."
Infosys has also partnered with Bharti Airtel to launch a mobile payment system, Airtel Money, and is now in talks with other telecom companies to tap 4G services. It's mobility platform is also growing roots. The company bagged a Rs 100-crore deal with the government postal department.
"The government is interested in taking mobility to different, remote areas and this is an initiative to further that plan," says Raghu Cavale.
Another large project that Infosys is learnt to be keeping its eye on, is the UID scheme. Sources say the UID project could come up for re-tendering, since some of the guidelines are being redrawn and the Infosys top management admits it is interested.
CNBC-TV18 has also learnt that Infosys BPO COO Ritesh Idani has stepped down after a stint of 13 years and played a key role in scaling up Infosys' BPO business.
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