The Ness Technologies, an IT services company has recently set up its first special economic zone stretching across 60,000 sq ft with potential of accommodating over 600 engineers to serve company’s global customers. In the first phase of the SEZ, the company has invested about Rs. 5 crore in creating 30,000 sq ft facility, which has commenced operations with 10 delivery centres across five cities, including Bangalore, Chennai, Mumbai, Hyderabad and Pune and planning to hike the headcount to 5000 in India in the next couple of years.

The company is investing in creating capacity ahead of growth as it thinks that India is rapidly getting out of recession crisis, while Europe is still struggling. The financial services vertical that was the most affected by the crisis seem to be leading the recovery, President & Sachi Gerlitz said, adding that the pricing pressure has stopped and his company sees a healthy pipeline of new projects.

The Ness Technology has engaged about 3,000 of its 7,800 global workforce in India, which mainly builds software products for other companies such as Quintiles, IBM, Philips and AT&T. The company earns about a fifth of its revenues from the product’s engineering segment, while systems integration and application development accounts for about 80 per cent, he added.