Aptech plans to re-enter Bangladesh by setting up training centres in the South Asian nation, a country it exited several years ago following the economic turmoil.
The Mumbai-based technology education company has recently set up a centre in Sri Lanka, another country it had exited.
Looking for partners
The company is on the look out for franchisee partners and hopes to roll out the first centre in Bangladesh this year, Aptech Chief Executive Officer Ninad Karpe told Business Line in an interview.
“Countries in South Asia such as Bangladesh, Sri Lanka and Nepal are keen to replicate the success enjoyed by Indian companies in the IT and back office space. There is huge demand for technology training,” Karpe said.
Aptech, in which billionaire investor Rakesh Jhunjhunwala owns a majority stake, had shutdown its Bangladesh subsidiary in 2007. Though the idea then was to manage Bangladesh operations from India, the economic downturn in the years that followed made it unviable for Aptech’s franchisee partner to continue operations.
“There was a drop in the number of students joining IT courses, making it unviable for the franchisee to run the show. However, now we think that country has stabilised politically and economically, and so it is a good time to venture back to Bangladesh,” said Karpe.
This time around, Aptech is scouting for business partners who can “stand tall”, especially during an economic downturn.
“The nature of this business is such that it takes some time before it becomes cash-flow positive. Hence, we try to understand the potential partners’ background, the business plan and willingness to invest before taking a call,” said Karpe.
VISION 2015
As part of its oft-stated strategy of generating more than half its revenues from global markets by 2015, Aptech has been expanding footprint across foreign shores.
The company, with presence in 35 countries, focuses more on emerging markets in Africa, South East Asia, Latin America and Eastern Europe. In November 2012, Aptech had announced it will provide IT career courses offered under its retail brands – Aptech Computer Education and Arena Multimedia- in Nepal.
Separately, Aptech has entered into a three-year arrangement with the training arm of Universal Commodities Exchange to provide training in the financial services domain.
adith@thehindu.co.in