HCL Tech commences operations in Sri Lanka.

HCL Technologies (HCL)  announced recently the commencement of its operations in Sri Lanka to leverage the country's IT workforce.

The announcement was made after market hours yesterday. Shares of HCL Technologies rose 0.38% to end at Rs. 580.90 on Wednesday.

Marking its presence in the region, HCL plans to create over 1,500 new local employment opportunities for both freshers and experienced professionals, within the first eighteen months of kick-starting its operations from its office in Colombo. A key part of HCL's business and development strategy in Sri Lanka will be to use local talent pool of Sri Lanka for global assignments.Srimathi Shivashankar, Corporate Vice President of HCL Technologies said that the company's delivery center in Sri Lanka will play an important role to serve our Fortune 500 and Global 2000 clients and partners throughout the globe.

HCL joined hands with the Board of Investment (BOI) of Sri Lanka in February 2020 to launch its local entity HCL Technologies Lanka (Private) and set up its first delivery center in the region. Through this entity, HCL will provide services to global clients in the areas of Applications & System Integration Services and Infrastructure Services.

Sri Lanka is accelerating into an emerging destination of choice for the global ITO and BPM market. The country is one of the best destinations for providing off-shore services for Information Technology Enabled Service (ITEs) as well as services related to Finance and Accounting, Legal, Insurance, Banking, and Telecommunications, HCL said.

HCL Technologies offers its services and products through three business units - IT and Business Services (ITBS), Engineering and R&D Services (ERS) and Products & Platforms (P&P).

BS