Black Box Strategizes India Boost to Reach $2 Billion Revenue Target by 2028

Black Box, the IT arm of Essar Group, aims to increase its India business share by 1-2 percentage points to reach a USD 2 billion revenue target by 2027-28. The company plans to expand its employee headcount in India and leverage its global expertise to capture growing market opportunities.

Black Box, Essar Group's IT arm, anticipates a 1-2 percentage point growth in its India business share, aiming for USD 2 billion in revenue by 2027-28, according to CEO Sanjeev Verma.

The company specializes in IT infrastructure for critical tech applications, including hyperscaler data centers, and plans to introduce its global learnings to the Indian market.

With India currently contributing 6% to its business, Black Box aims to increase this to 7-8%. Additionally, the firm plans to expand its Indian workforce from around 600 to 1,000 employees in the next few years.

Verma emphasized the strategic importance of India from both a local market and global expertise perspective, planning significant investments in Indian capability centers. Black Box operates 75 delivery centers worldwide, with 14 in India and 21 in the US, and employs over 4,000 people globally.

Focusing on the top 250 clients that generate 90% of its revenues, the company aims to shift from a geography-led go-to-market approach in America to a vertical-led strategy, covering five key sectors: banking, finance, healthcare, technology, and industrial.

Black Box also intends to exit non-accretive customers and focus on long-term client relationships to achieve its $2 billion revenue goal by fiscal year 2028.

(With inputs from agencies.)