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BPO boom continues with Foreign Direct Investments - Macmillan India opens book typesetting unit
Macmillan India moves to take advantage of India outsourcing boom. Recently foreign direct investing in sectors other than traditional IT and call centers have accelerated.
According to PTI, Book publishing major Macmillan India Ltd (NSI:MACI) Saturday opened its book typesetting unit here with plans to hire 325 people by 2006 and is looking at buying units in the BPO book publishing business in the country.
"We want to invest more in India," Macmillan UK CEO and Macmillan India Chairman Richard Charkin told reporters here.
The unit's capacity is already booked by the present customers, who are planning to expand their production.
Macmillan India, the Indian arm of the UK publishing firm Macmillan, employs 2,200 of the global workforce of 7,000, which includes 1,500 people dedicated to outsourcing work to global clients.
Macmillan India Managing Director Rajiv Beri said the firm expects to generate revenue of US$4 million by 2006 from the new unit.
"The Bangalore operation will rapidly become a global centre of excellence for Macmillan, playing a key role in providing new and additional world class services for our customers," Charkin said.
Macmillan India is listed on the Bombay Stock Exchange and the parent, which is a privately held entity, has no plans to convert the India entity into a private firm.
"We are happy with the Indian operations. We are not making it private," Charkin said.
He said the firm was looking at acquiring BPO firms in the book publishing and typesetting space as part of its expansion strategy.
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