Brazil -- Latin America's largest economy -- is the latest hunting ground for India's top tech firms, as the country's market for outsourcing and software services is set to cross $10 billion mark this year.

In a year when traditional outsourcing markets of the US and Europe have resumed spending, emerging countries like Brazil offer opportunities beyond just a near shore destination for Tata Consultancy Services, Infosys and Wipro.

"We are clear that we do not want this to function as a near shore centre. We are addressing the local customer as well as the multinationals that are our customers and have a large presence here. For this, we have a local sales and marketing team, local leadership and everything," Sandeep Kalra, Vice-President, Emerging Geographies, HCL Technologies, said.