Looking To India For Foreign Direct Investment (fdi)

By Author: Mohd Ishtiak
Total Articles: 402
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The recent announcement by Minister for Jobs, Enterprise and Innovation, Richard Bruton TD, that HCL Technologies was to set up a software delivery centre in Dublin was interesting not just because of the 80 jobs that it will create for graduates over the next three years.

It was more noteworthy in that the company is Indian, and it’s encouraging to see that investment in Ireland is widening its base from the more common investors such as the US and Europe.

This vast sub-continent is a major economic powerhouse whose influence will growth hugely over the coming years and decades.

In attracting HCL Technologies, the message has been sent out loud and clear that Ireland is open for business for investment from right around the globe.

Numerous industry sectors in Ireland have been augmented by foreign direct investment (FDI), and the arrival of HCL gives yet another boost to our technology and IT sector.

In terms of the importance of the announcement, it should be noted that HCL is a leading ...
... global IT services company, with over 85,000 employees worldwide, in no less than 31 countries..

Reports indicate that HCL’s Irish operation will service clients and prospects in the Financial services, Insurance and Healthcare/Pharmaceutical industries.

And in terms of the future prospects of further Indian companies setting up businesses in Ireland, it’s interesting to note that the investment was influenced the rapidly increasing demand forecast for IT services in this region.

Allied to a high degree of local IT skillsets and strong graduate programs, this was enough to put Ireland top of the list for HCL when it came to investing abroad.

has made Ireland one of the top countries for HCL to invest in. HCL Technologies also has established global delivery centres in UK, Poland, Finland, US, Brazil, China, India, Malaysia and Northern Ireland.

Minister Bruton said "The real economic success story of Ireland in the mid/late 1990s was based in part on tapping into the global IT boom going on at that time. If we are to get out of the crisis we're in and create the jobs we so badly need, a key part of that will be to build on our established strengths and once again now take advantage of the rapid growth in the global IT industry - particularly coming from countries like India and China.

"HCL is one of India's leading IT companies and a significant player the global industry, and I met them as part of my recent trade mission to India to discuss the possibility of them locating in Ireland. Today's announcement that they are creating 80 graduate IT jobs here is extremely welcome, and I am determined to build tirelessly on this to ensure that similar announcements can be made across the economy in the coming years".