IHS Chairman and CEO Jerre Stead told newsmen here that the company which started its operations in India about a year ago with the acquisition of i2cds for 40 Million US dollars had doubled the staff strength to 200. The growth in the first year was belied expectations with the increase in business being over 16 per cent he said. He however did not divulge the quantum of investment planned. He said the Indian team supported most of the back office operations catering to over 15,000 clients.
With India and China being the main energy guzzlers, reporting a increase in consumption of over 20 per cent of all category of energy, the potential for growth in Asia, which now consumed two-thirds of the world energy, India had gained a lot of importance world wide along with the middle east region which was emerging a key supply market.
IHS reported a revenue of 550.8 million dollars for the fiscal 2006 ending November.
Mr Stead said that IHS expected considerable increase in information relating to carbon trading which had emerged a key topic at the World Economic Forum in Davos He said the company had developed a comprehensive collection of technical information that was highly relevant to the industries it served. The decision making support tool enabled its customers to quickly and easily search and analysis information it required. IHS covered petroleum industry in over 90 countries.