CHENNAI: Sundaram Business Services (SBS), the BPO arm of Sundaram Finance, has formed a joint venture with ETA Group, the Dubai-based business conglomerate. The joint venture company has plans to hire accounting professionals and people with skills in Arabic language.

The new company, christened Gulf Outsourcing Services Pvt. Ltd., will be headquartered in Chennai with an initial investment of Rs. 2 crore. SBS will have 40 per cent stake and ETA 60 per cent capital in the new venture. ETA funds will be routed through ETA Starholding Ltd located in India, according to P. S. Raghavan, Executive Director and Head of SBS.

Addressing a press conference here on Wednesday, Mr. Raghavan said the joint venture would target, the BPO markets in the UAE, Bahrain, Oman, Qatar, Kuwait and Saudi Arabia, with focus on the BFSI (banking, financial services and insurance) verticals. The delivery partners for this project would be SBS, while Gulf Outsourcing Services would do the marketing.

The joint venture would open a full-fledged office in Dubai shortly.

Sundaram BPO was also seeing a lot of traction in the domestic market, especially in the insurance verticals.

The Director (Finance), ETA Group, Arif Rehman, said the Gulf region was now positioning itself as a major outsourcing destination and many companies in the Gulf would benefit from it. This joint venture was the first for the house of ETA.

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