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With the Rs 9,000-crore (Rs 90 billion) Indian human resource industry backed by a booming economy, international HR firms are vying for a piece of country's recruitment pie.
The latest to set up shop is Japanese HR consultancy, Staff Service, which has bought Net Technologies. The Mumbai-based HR firm has an annual turnover of Rs 3.5 crore (Rs 35 million).
The $3.5-billion Japanese company, with 210 offices world over, will hold 54 per cent stake in Net Technologies and will start operations in India under the Staff Service Net Pvt Ltd nameboard.
"Staff Service's attempt to set up base in India and Net Technologies attempt to go global, led to the deal," said a company spokesperson.
Industry sources add that two US HR companies Espherion and Volt are also scouting for partners to enter the Indian market. Already the top five international HR companies have set base in India.
Randstad Holding, the third biggest HR firm in the world, had in November acquired 51 per cent stake in EmmayHR, an Indian recruitment firm.
Most of the other big players have opted for a local partner to set base. While the UK-based Adeceo acquired Peopleone, the Dutch company Vedior partnered with the Indian HR firm Ma Foi.
Kelly entered the Indian market after it acquired the Singapore based Veti, which already had an Indian base. Last year, Manpower had acquired three divisions of ABC Consultants, an Indian professional executive selection and recruitment firm.
Staff Service is among the world's top ten consultancies providing staffing solutions, outsourcing services, and HR advice to a cross-section of businesses.
"With this deal we are looking at expanding operations into aviation, hospitality, oil & gas, construction and retailing.
It is about to enter into the area of temporary staffing and interim management staffing in the near future. Net's vision is to be amongst the top three executive search firms in India in the next three years," said Sanjay Salunkhe MD, Staff Service Net Pvt Ltd.
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