India markets open in 5 hours 41 minutes

Indian IT companies look towards Guatemala: Envoy BS Mubarak

Huma Siddiqui

The geographical proximity of Guatemala with the US, time zones which are similar and also the quality manpower that is available in this country makes the Central American nation an important destination for BPO business. In an exclusive interaction with Financial Express Online, India's ambassador to Guatemala BS Mubarak said, "BPO contributes a lot to the economy of Guatemala. There are already 3 well known Indian BPOs in Guatemala. 24/7, Genpact and HCL altogether they employ more than 4000 Guatemalans."

"With the present visa restrictions in the US, Indian companies can also look into the possibility of expanding their operations to countries like Guatemala to serve their US customers. This is also called nearshoring," he added.

The envoy who was recently in India had visited NASSCOM and held a meeting with the top leadership about exploring opportunities in the Central American country. "Indian industry is interested in expanding its operations in Central America. I have requested NASSCOM to explore the possibility of mounting a delegation to Guatemala," Mubarak said.

"The Guatemalan President Dr Alejandro Gammattei, has shown keen interest in inviting Indian IT and BPO companies to invest in his country," said the envoy.

"If the NASSCOM delegation visits Guatemala, this would be the first time that the Indian mission will be facilitating the visit of such a delegation."

Last year large number of Indian companies had visited the Central American nation to explore the markets and to showcase their products — automobile, pharmaceutical, engineering, and textiles.

Efforts are being made by the government to increase its engagement with the Latin American Region and to take this forward both President Ram Nath Kovind and the Vice President Venkaiah Naidu have visited several countries in the region.

In fact, in his first overseas visit as the Vice President, Naidu had visited Guatemala in 2018 and had urged the two countries to take work together for mutual benefits.