Indian company to invest in Parramatta

Leading Indian software developer, Polaris Software, plans to establsih a software lab in Parramatta, at a cost of $4.8 million, with a staff of 35. The expectation is that this number could increase to 160 in five years. Some 80 per cent of the initial staff would come from India. The facility would service clients in Australia, New Zealand, Singapore and Hong Kong. At the close of business in Parramatta, clients' work would be transferred to the company's facilities in India, Ireland and Canada. Clients include banks, Toshiba and Canon. Director, Anil Verma, said it was a "big win" for Australia as Singapore was a contender. Polaris will collaborate with the University of Western Sydney in software development.