top of page
-

LTI Mind tree aims to improve female employment opportunities in Saudi Arabia.




The partnership between tech consulting firm LTI Mind tree and Aramco will emulate India's approach to cultivating a technology talent pool in Saudi Arabia and advancing women's employment in the country, according to a senior official from the Indian IT company. This joint venture aims to establish a next-generation digital and IT services company in Saudi Arabia to cater to the swift digitization of the Saudi market and nurture local talent over time. LTI Mind tree President and Executive Board Member Sudhir Chaturvedi stated that the collaboration with Aramco Digital will pave the way for such advancements in Saudi Arabia.

Chaturvedi emphasised that the model employed will mirror the approach taken in India, which involves recruiting both seasoned professionals and recent graduates from universities, followed by comprehensive training. This initiative particularly focuses on enhancing women's employment opportunities in the Saudi market. LTI Mind tree will hold a 51% stake in the venture, with Aramco's fully owned subsidiary, Global Digital, holding the remaining shares.

The joint venture, announced on March 6th, is set to commence operations on July 1st. Chaturvedi highlighted that LTI Mind tree emerged as the chosen partner after a rigorous selection process involving over 20 global companies spanning approximately two years. He underscored Saudi Arabia's significant role in driving tech spending, particularly evident in major projects like NEON and Red Sea Global.

Chaturvedi noted that around 12 such projects are currently underway in the Kingdom, with a predominant reliance on cloud-based infrastructure. He drew parallels between the digital transformation initiatives witnessed in India, such as Digital India, and the plans to kickstart similar modernization efforts in the Saudi market and other MENA regions.

Despite global economic uncertainties, Chaturvedi expressed confidence in the venture's prospects, stating that while clients worldwide are cost-conscious, the Saudi market prioritises execution capabilities and the quality of technology solutions. He acknowledged that while the initial contribution to margins from the JV might be modest, its long-term potential is substantial.

Looking ahead, Chaturvedi outlined plans for significant investments over the years to capture a considerable share of the burgeoning KSA and MENA region market. LTI Mind tree recently reported a 17% increase in consolidated net profit and a 5% growth in revenue from operations year-on-year in the December 2023 quarter.


0 views0 comments

Comentários


bottom of page