Tuesday, May 16, 2023

Experion Technologies To Invest INR 50 Cr For Global Expansion; To Onboard 1,500 IT Professionals

* Company plans to invest over $6M (INR 50 Cr) in the next 12 months to strengthen its presence in global markets, Japan & Nordics being key focus territories. 

* Additional 1,500 IT professionals, including 600 fresh IT graduates, to be onboarded within the next two years. 

Experion Technologies, a global product engineering services company enabling enterprises with future-ready digital solutions, has announced its strategic plan to expand its international operations and build capacity in Japan, Nordics, and other existing markets, namely the United States, Australia/New Zealand, the United Kingdom & Mainland Europe. The company has allocated INR 50 Cr. (US $6 million) towards global expansion for the next 12 months. It looks to strengthen its local presence by onboarding technical and senior sales & domain practice leaders in those markets.  

Key Points 

Experion to expand global operations – with a key focus on Japan & Nordic regions. 

To invest up to INR 50 Cr (US$ 6 million) over the next 12 months toward global expansion and building capacity 

Hiring 600 freshers from Kerala in 2023 to meet the robust project line and the demand for product engineering worldwide. 

Experion on course to reach a headcount of 3,000 employees by FY 2025-26 

In June, Experion will start operations in Japan. The company plans to bring advanced tech capabilities, product engineering process competence, and learnings gained from other markets, such as the US, UK, and Australia, to the Asian nation. Additionally, the company will invest in capacity building for engineering verticals comprising Automotive and Embedded Systems. 

Part of the expansion plan includes an increase in onsite hiring – Experion has begun hiring local engineers for their US & ANZ offices, adding to the investments made in the US by Indian companies and creating more jobs in the local market. Indian companies have invested over $40 billion in the US and created over 425,000 direct jobs, the Confederation of Indian Industries (CII) said in a report on the Indian industry’s footprint in the US. As per the report titled ‘Indian Roots, American Soil,’ 85% of surveyed companies plan to hire additional local employees in the next five years, with 83% planning future US investments. 

Additionally, from the total investment, Experion has allocated budgets to boost delivery capability in India. Experion plans to add 1,500 IT professionals, doubling its overall headcount to 3,000 by 2025-26. Around 600 recruits would be freshers, selected, trained, and deployed in Kerala, where the company is headquartered.   

To cater to the rising demand for product engineering from customers worldwide, Experion relies on its unique advantage of mining and upskilling homegrown IT talent available in South India, where its three delivery centers are located. This also aligns with the company’s goal of increasing its total employee base to 3,000 by 2025-26. 

Commenting on the expansion strategy, Mr. Binu Jacob, Managing Director, and CEO of Experion Technologies, said, “Product engineering within the digital domain is witnessing explosive demand across industries in the global markets where we operate. We see an exciting opportunity to be part of that journey in these new markets. Experion has already started providing immersive training in the local Japanese language and culture to many existing technical leads covering multiple technology portfolios. Our continued growth, portfolio, and market expansion amid the global slowdown can be credited to our sustainable business model and practices in digital product engineering, which benefit our customers.” 

Experion aims to leverage the highly skilled engineering talent nurtured by the top colleges in South India, particularly in Kerala, which frequently rank among the finest in the country. It has been at the forefront of tapping the immense lateral talent pool available in the state, particularly in the IT hubs of Technopark, Thiruvananthapuram, Infopark, Kochi, & also in Bangalore, which house Experion’s delivery operations. Kerala’s IT industry has been booming in recent years - while IT exports fetched a whooping Rs 17,536 crore in 2022, with the number of IT professionals in the state growing from 78,068 to 1,35,288 since 2016. It is fast becoming an alternative to customers looking for reliable, talent-rich IT hubs beyond Bengaluru.  

“We have always focused on identifying and nurturing local talent, par excellence. The secret to our consistent success can be credited to the potential we have managed to tap from the colleges across Kerala. We look forward to continuing our fruitful partnerships with these institutes,” Mr. Jacob added.  

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