Economic times reports, NEC Corporation is planning to more than double its revenue to $1 billion within five years in India led by offshore support centers, smart city project, and 5G, and plans to hire 14,000 employees to support growth in India and the US, European and Asian countries.
According to media reports, the company has been involved in India’s Aadhar project and has provided its biometric and IRIS-based solutions. It has just bagged a contract from the Airport Authority of India to implement a biometric-based boarding platform across four airports in India by the end of 2020.
In conversation with ET, Takashi Niino, President and CEO, NEC Corporation said “Right now, we are at $400 million and look forward to increasing to $1 billion in five years… India is one of the focus areas and a key strategic market,”
NEC had established a research lab in Bangalore last year and is now planning to double the headcount by the end of this year. “We are actively hiring data scientists.”
We are going on the right path but need to speed up. We are expanding manpower to enable the growth journey.” Niino added in response to a question
NEC is looking to utilize India as the hub for its offshore support and product development for global markets, Niino said, adding that the manpower expansion will also include research and development (R&D) expansion. The company currently has 6000 employees in India.
“Both Indian and Japanese governments discussed how to target business outside India. We are participating in the Aadhar project. That’s sort of a business model…it is necessary to promote this type of solutions in developing countries,” the executive said.
The company also plans to develop 5G use cases in collaboration with telecom operators and gear vendors in India. It has joined hands with Korea’s Samsung for 5G field trials in India.
“5G is more about the machine to machine communications. For 5G services, we as a technology provider, telcos and vertical industry players need to work together. This three-party collaboration is actually important for 5G services,” Niino said.
The executive said that the involvement of vertical industries will help develop business cases around 5G technology in India.