After Adani Group, Indian IT major HCL Technologies expands in Sri Lanka

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Indian IT giant HCL Technologies (HCL) opened its new facility in Sri Lanka's capital Colombo at the state-of-the-art Cinnamon Life complex.</p>
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HCL has expanded in a big way in Sri Lanka in just one year with the new facility to accommodate 4,000 employees.<br />
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Sri Lankan Finance Minister Basil Rajapaksa and Indian High Commissioner Gopal Baglay inaugurated the office along with top HCL management.</p>
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From day one at HCL Sri Lanka, you'll already be on your way to taking your skills overseas. From innovation to holistic work culture, HCL puts employees first.<br />
Register today via <a href="https://t.co/8VVrsB7LMB">https://t.co/8VVrsB7LMB</a>​<a href="https://twitter.com/hashtag/HCLSriLanka?src=hash&ref_src=twsrc%5Etfw">#HCLSriLanka</a> <a href="https://twitter.com/hashtag/TechBee?src=hash&ref_src=twsrc%5Etfw">#TechBee</a> <a href="https://t.co/M8xEBsKoFM">pic.twitter.com/M8xEBsKoFM</a></p>
— HCL Sri Lanka (@HclSriLanka) <a href="https://twitter.com/HclSriLanka/status/1464798704880209920?ref_src=twsrc%5Etfw">November 28, 2021</a></blockquote>
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At the inauguration, Finance Minister Rajapaksa said: "As a nation, we are thankful for the opportunities HCL continues to offer our youth and make them global IT professionals. The company’s commitment and growth drive in Sri Lanka are also reflective of the long-term business resilience of Colombo’s ascent as a commercial hub in South Asia. I take this opportunity to congratulate the management of HCL Technologies and extend my very best wishes.”</p>
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HCL forayed into Sri Lanka in 2020 with the aim of making it an IT and technological services delivery hub for some of the largest corporations in the world. With the new office, HCL will provide IT services in the field of digital applications and system integration services, product development and support, and infrastructure management services including digital workplace solutions.<br />
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“Since the time HCL entered into Sri Lanka, it has been on a growth path,” Indian High Commissioner Gopal Baglay said at the launch event.</p>
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HCL's expansion in Sri Lanka is significant as it comes on the heels of another Indian company <a href="https://www.indianarrative.com/economy-news/india-dents-chinese-influence-in-sri-lanka-through-colombo-port-deal-118437.html">Adani Group's advent</a> into the island nation. In September this year, Adani signed a $700 million deal with the state-owned Sri Lanka Ports Authority (SLPA) to build and run the strategic Colombo Port's Western Container Terminal (WCT).<br />
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Sri Lanka is facing a major economic downturn with mounting Chinese debt, the Covid-19 lockdown and also the Easter bombings in hotels and churches by global terror groups in 2019. Its forex reserves are down to the bone.<br />
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With mounting economic issues, India's southern neighbour is <a href="https://www.indianarrative.com/world-news/sri-lanka-likely-to-seek-billion-credit-from-india-as-colombo-rediscovers-time-tested-ally-131457.html">strengthening its relations with New Delhi</a> and is inviting investment from Indian companies. The two nations, with long and deep historical relations, have initiated a series of measures to improve bilateral relations in the fast few months with high-level visits.<br />
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In a related development, Sri Lanka’s High Commissioner to India—Milinda Moragoda, visited HCL's global headquarters in Noida, Uttar Pradesh, last week. </p>