Singapore: Tata Communications, which has been awarded the status of ‘International Headquarters’ by the government here, on Wednesday, committed a fresh investment of 440 million Singapore dollars over the next four years. (Agencies)
"The official accreditation of international headquarter status by the Singapore government has come on the back of our long-term commitment and continued investment in the region," Tata Communications MD and CEO Vinod Kumar said.
The incentive-based IHQ status, awarded by Singapore's state investment agency Economic Development Board, would also see Tata Communication increasing its Singapore workforce by 60 per cent to 200 over the next four years.
"One of the many benefits of placing our international headquarters in Singapore is the access to its world-class technical and business expertise,” Kumar said.
Speaking on the occasion, Tata Communications Chairman Suboth Bhargava said the status would give his company opportunities to participate in Singapore's economy with access to local facilities.
Tata Communications would be working with local research and development institutes of Singapore universities to further develop products for the communication sector.
Bhargava backed the drive for expansion overseas, saying 75 per cent of Tata Communications revenue was coming from international businesses now compared to just two per cent in 2002.
Speaking at the function, Singapore Senior Minister of State of Trade and Industry, S Iswaran acknowledged Tata Communications leadership in the sector.
Further to its services control tower, Tata Communications has also picked Singapore as a hub for its cloud computing initiatives.
Earlier this year, Singapore was selected for the first launch of its cloud service offering outside India.
Singapore: Tata Communications, which has been awarded the status of ‘International Headquarters’ by the government here, on Wednesday, committed a fresh investment of 440 million Singapore dollars over the next four years.