Latin America: India’s Next Frontier
  • INDIAN INVESTMENTS From hairspray in Argentina (top) to lights (above), Indian companies are expanding in Latin America. (Photos: Arcencos and Havells-Sylvania)
23rd June 2010
Despite the global crisis last year, many Indian companies boosted their Latin America investments.

BY JOACHIM BAMRUD

While
India is seeing strong economic growth, an increasing number of Indian companies are now looking at Latin America as the “next frontier.”

 


“We are very upbeat about Latin America and view it as the next frontier of growth,” says Harshul Asnani, head of Latin America and US West operations for BPO company TechMahindra.


 


The rapid growth in IT and network spending, increased mobile/broadband penetration and large scale consolidation in the telecoms sector in Latin America offers “vast potential” for a specialized telecom-focused systems integrator like Tech Mahindra, he says.


 


Omar Momin, vice president of strategy and M&A at Godrej Industries, also sees strong Latin America potential. “There are tremendous opportunities in Latin America that…



Keywords: Brazil, Chile, Colombia, Costa Rica, Godrej, Havells Sylvania, Mexico, Peru, TechMahindra

Despite the global crisis last year, many Indian companies boosted their Latin America investments.
BY JOACHIM BAMRUDWhile India is seeing strong economic growth, an increasing number of Indian companies are now looking at Latin America as the “next frontier.”
 
“We are very upbeat about Latin America and view it as the next frontier of growth,” says Harshul. Asnani, head of Latin America and US West operations for BPO company TechMahindra.
 
The rapid growth in IT and network spending, increased mobile/broadband penetration and large scale consolidation in the telecoms sector in Latin America offers “vast potential” for a specialized telecom-focused systems integrator like Tech Mahindra, he says.
 
Omar Momin, vice president of strategy and M&A at Godrej Industries, also sees strong Latin America potential. “There are tremendous opportunities in Latin America that fit in with our strategic objectives,” he says. “These emerging markets have characteristics and consumer demographics similar to India with significant middle of the pyramid populations. They also hold tremendous potential in terms of growth in the coming decade and give the Godrej Group an opportunity to serve the needs of Latin American consumers better.”
 
“Indian companies continued their investment and joint ventures in the region despite the downturn last year,” says R. Viswanathan, India’s ambassador to Argentina, Uruguay and Paraguay and his country’s top Latin America expert. …

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