By Neena Bhandari, IANS
Sydney : Polaris Software, a leading Indian software company, has launched its new software testing laboratory here that will inject Australian $5 million (US$4.5 million) into the state of New South Wales (NSW).
NSW Minister for State Development Ian Macdonald said Monday: “This is about attracting investment from India, instead of the other way around, where our jobs are outsourced to companies based there.
“It’s a great coup because Polaris chose Sydney over Singapore. It will create 160 jobs and bring millions of dollars worth of investment into our state,” the minister added.
Polaris is one of a number of major Indian IT companies, including HCL, Infosys, Satyam, Tata Consulting Services and Wipro that have chosen Sydney for their Australian operations. NSW is fast growing as an ICT hub, with nearly 90,000 people employed in information and communication technology (ICT) occupations, more than 41 percent of the national total.
Macdonald said: “This investment also demonstrates the importance of our relationship with India, which is becoming one of Australia’s most important and fastest growing trading partners. Bilateral trade has tripled in volume since 2000, and this trend is set to continue.”
Establishment of the Polaris Application Certification Enterprise (PACE) laboratory will provide clients in Australia, New Zealand, Singapore and Hong Kong with a cost-effective near shore facility, critical for delivering zero defect software.
The Sydney-based centre complements Polaris Centres for Performance Diagnostics and Managed Testing Services in the US, Canada, Northern Ireland and India.
Chief executive officer and chairman of Polaris Software Lab Arun Jain said: “Sydney has a long and rich history in banking and financial services and thus would be the most suitable location to support the complex requirements of leading banks, financial services, insurance, manufacturing and services sectors in South-East Asia, Australia and New Zealand.”
Australia’s financial capital, Sydney’s financial services workforce is nearly half the size of the world’s largest financial services centre in New York City and the sector has grown by 26 percent over the past 10 years.
Polaris came to Australia in 2000. It currently works with a range of clients including five out of the top seven Australian banks as well as global giants like Toshiba, Canon and Firth.
Director and head of Polaris Australia Anil Verma, said: “The Sydney PACE lab is a major step that we have taken for continuous value creation for our customers. We have been active in promoting and fostering Australia-India relationship in the ICT sector.”
Verma was the founder president of the Forum of Indian IT Companies in Australia (FINDIT), which has morphed into NASSCOM Australia.
Verma, who moved to Australia in 1991, said: “I had an opportunity to go to the US but opted for Australia as I found it offered a balanced life style. This place gave me and my family sufficient room to grow, and I am glad that I have been able to add my point two cent to this place.”