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Target to expand to Mysore

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CIOL Bureau
New Update

Priya Padmanabhan

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BANGALORE: The $52 billion American retail major, Target Corporation that has a software development center in Bangalore, is now looking to expand its presence to Mysore.

According to market sources, Target, the sixth largest retail firm in the US, is awaiting board approval to take up 20 acres of land in Mysore. If the proposal is cleared, this could be the biggest MNC to date to set up shop in the city.

Meanwhile, a few other global companies are waiting in the wings to invest in Bangalore. These investments include another major global retail company and an IT infrastructure company.

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The IT services and BPO company First Indian Corporation, a subsidiary of the $7 billion First American Group with operations in Hyderabad and Bangalore, would be setting up operations in Mangalore soon.

Another BPO company, Hinduja TMT will be ramping up its presence in Mysore shortly.

Sources feel that this flurry of investment activity suggests that hot investment climate in Karnataka and that the IT industry is interested in going beyond Bangalore for expansion.

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While Indian companies such as Infosys, Wipro and MphasiS were among the first to move to tier-two cities like Mysore, Manipal and Mangalore, it now looks like the MNC companies' comfort level about these cities is well set.

Announcements on these investments are expected in the next few weeks.

© CyberMedia News

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