Business: IT arm Black Box Essar Group expects to increase its business share in India by 1-2 per cent and become a $2-billion company by 2027-28, a senior company official said. Black Box CEO Sanjeev Verma told PTI that the company specialises in building IT infrastructure for mission-critical technology applications, including hyperscaler data centres, and plans to bring its expertise to the Indian market as many of the company’s client companies across the world are based in the Indian market. country. He said the company plans to increase its number of employees at all levels in India to around 1,000 from the current 600. “At the moment India’s share in our business is 6 per cent. We do not expect it to be very big, but if we have to reach $2 billion, it will be important for us to bring it to 7-8 per cent.” Verma said: “The company reported revenue of about $750 million in fiscal 2024.
Verma said Black Box aims to add value in India by partnering with some global clients that are “very large and complex”. “Interestingly, many of them (global clients) are also coming to India. We try to use the experience we gain from them while working on our projects in Europe and the United States,” he said. Black Box aims to become a $2 billion company by 2027-28. Verma said India is not only a large local market but also has great strategic importance for the company in terms of global expertise and supply. He said the company is investing in power centres in India to serve clients across the world. “We have now increased this number from about 300 to 600. We hope to increase this number to over 800 by the next financial year and about 1,000 in the next few years,” Verma said. Our overall hiring will be higher as we will also hire for new local markets.
