A UAE-based payment solutions provider has set up a captive centre in Bengaluru, becoming one of the first firms from the Middle East to open its branch in India.
Network International is among the first from the Middle East to open a captive centre in India, a timely initiative as the UAE seeks to strengthen economic cooperation with its longstanding trading partner, Gulf News reported.
Its India facility - Network International Global Services India PTE Limited - will operate as a technology center and will eventually become a 'Testing Centre of Excellence', leveraging the expertise of India's technology professionals.
The center was inaugurated by R V Deshpande, Minister for Large & Medium Scale Industries and Tourism for Karnataka.
"The Bengaluru office will tap into a talented resource pool, and our customers stand to benefit from even quicker response times, specialised technological supportand an overall increase in operational efficiency," said Bhairav Trivedi, Chief Executive Officer of Network International.
The Indian facility will serve to support and enhance Network International's regional expansion plans. The UAE is currently India's third-largest trade partner, Trivedi said.
Over the years, India has emerged as a preferred offshoring destination for companies based in the US, Europe and Japan, mainly due to the availability of skilled personnel and cost-effective high-quality services.
India accounts for 45 per cent of the total captive centres, or global in-house centres (GICs), in the world, making it the leading destination, according to Nasscom, a global trade association for the Indian Information Technology and Business Process Outsourcing industries.
