NEC Technologies India expects to grow its business by 50 per cent in the next three years, mainly on account of traction for its open source technology platform.
"NEC Technologies India is looking to grow by 50 per cent by 2020 and increase the manpower in the same proportion to support growth," NEC Technologies India Chairman Anil Gupta said on the sidelines of announcing plans to set up FIWARE lab node in India.
He however did not disclose the current revenue of the company. The company has 1,850 employees.
NEC Technologies, a subsidiary of Japan-based NEC Corporation, expects revenue of USD 150 million alone from FIWARE lab node, a consortium of 90 technology companies to develop open source technical solutions, which will be set up in Noida.
"This is the first FIWARE lab node in Asia. NEC Technologies will be making capital expenditure of USD 15 million to set up this node. We expect it to generate revenue of USD 150 million by 2020 from India and Southeast Asia," Gupta said.
He said tech companies in India can also join the FIWARE but they will need to follow guidelines of the consortium.
NEC will set up FIWARE lab node with 15 IT professionals and plans to take it to over 100 by 2020. The node will be operational from April 2018.
NEC Corporation Senior Vice President Naoki Hashitani said India provides huge potential for FIWARE due to its recent uptake in technology and setting up of new projects like smart cities.
"We have plans to set up a FIWARE lab node in Japan but till then lab from India will support business in Japan," Hashitani said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)