December 16, 2019
The Indian IT company’s new technology delivery centers will cater to clientele in the Nordic, Baltic and Benelux regions
Two new technology delivery centers at Vilnius will serve as the base for one of HCL’s largest technology hubs in Europe
Operational since 2016, HCL has had an employee strength of over 10,000 people and a client base of 200 in the Baltic nation
The Indian Information Technology, which is valued at US$167 billion, is slated to grow to US$350 billion by the year 2025
Indian IT company HCL Technologies has further cemented its presence in Vilnius, Lithuania through the establishment of two new technology delivery centers that will cater to clientele in the Nordic, Baltic and Benelux regions, as per an announcement on December 16. With the aim to provide infrastructure and application development management services to nearshore clients, Vilnius will serve as the venue to one of HCL’s largest technology hubs in Europe.
Simonas Kėpšta, Chief Adviser to the President of the Republic of Lithuania on Economic and Social Policy said on the development, “Financial technology and service companies have already become the cause of pride in Lithuania, so we are pleased and appreciate the investments made by international companies such as HCL in our country.” Operational since 2016, HCL has had an employee strength of over 10,000 people and a client base of 200 across the Baltic nation.
Lithuania is known as an upcoming landmark in the fintech domain. Given the nation’s R&D capacity, collaborations in technology and the upgrading of existing technology can help amplify the current pace of innovation. The European Commission Directorate-General for Research & Innovation has identified several key areas wherein foreign collaborations could yield optimum outcomes, some of which include public-private partnerships in the domain of R&D as well as access to entrepreneurial training and public research funding.
The Indian Information Technology, which is valued at US$167 billion, is slated to grow to US$350 billion by the year 2025. The sector currently has expertise in IT services, Software Products, Engineering and R&D services, Hardware, e-commerce and ITES/BPO (IT-enabled services/Business Process Outsourcing). The sector has also enjoyed an increase in its export revenue from US$117 billion in FY17 to US$126 billion in FY18. With the increase in the export of IT services , revenue is expected to have increased to US$135-137 billion in FY19.
With companies like HCL expanding to European markets, the Indian IT sector can look to share its technical expertise in the spirit of mutual friendship.