Business | General
Indian IT firms eye deals worth Dh73.4m at Gitex
India expects to sign deals worth about $20 million (Dh73.4 million) during Gitex 2008 compared to $10 million last year.
- By Naushad K. Cherrayil, Staff Reporter
- Published: 23:29 October 11, 2008
- IT exports from India to the Middle East, particularly to the UAE, have increased substantially in recent years
- Image Credit: Gulf News archive
Dubai: India expects to sign deals worth about $20 million (Dh73.4 million) during Gitex 2008 compared to $10 million last year as 36 Indian companies under the aegis of Electronics and Computer Software Export Promotion Council (ESC) showcase their capabilities in IT hardware, software, services and IT industry infrastructure.
According to ESC, an autonomous body under the Ministry of Communications and IT, Government of India, Indian IT exports are growing at more than 30 per cent annually and are expected to touch $100 billion (Dh367 billion) by 2012.
Special packages
"ESC has been encouraging Indian IT companies, particularly small and medium enterprises [SMEs], to participate at Gitex by offering special packages since Middle East markets hold tremendous potential for Indian companies," said Kamal Vachani, regional director of ESC for the Middle East.
IT exports from India to the Middle East, particularly to the UAE, have increased substantially in recent years, said Vachani.
"India's IT exports to the Middle East have reached $980 million in 2007-08 and the region continues to maintain its fifth-place standing with respect to exports of electronics, computer software and services from India."
The region was fast emerging as an important export market for the Indian IT industry predominantly because of the booming UAE market and its business-friendly atmosphere, he said.
D.K. Sareen, executive director, ESC, said: "We are confident Gitex will provide a successful business interface for the Indian contingent since the region's key decision-makers will be participating at the fair. The Middle East and surrounding regions are looking forward to having meaningful tie-ups with India."
India's success in IT and an expanding pool of human resources have created many areas of co-operation between the two regions in areas ranging from banking, insurance and other financial services to manufacturing, retail and distribution, he said.
Sareen said Gitex had emerged as a major event in its own right and was expected to upstage CeBit (the world's largest annual trade show for information and communications technology) in another couple of years.
Venu Rajamony, Consul General of India, Dubai, would inaugurate the ESC pavilion, Vachani said.
The Indian software industry had increasingly moved away from direct marketing to end-users to offer solutions to a host of operational areas in manufacturing and services that were directly relevant to the Middle East, he said.
"This market is more for packaged products rather than customised products; so we are trying to offer more packaged products this year. But the companies here should realise that customised solutions are a better option in the long run. Ultimately the customer is king and we have to try and reorient ourselves to what the customer needs rather than what we think is best for him," Sareen said.
"We are penetrating very strongly in this region and we see further scope for increase in exports of software, hardware and other electronics items. India's consumer electronics are competing with Chinese goods as India makes only 'A' grade quality of goods," Vachani said.
Share this article
More from Business General
More from Business
Popular in Business
-
XPRESS
Way to go this DSF
A fun-filled route to guide you to all the happening dos in town
Business Editor's choice
-
Travel insurance offers peace of holiday mind
The wisest thing to do is to take out travel insurance before you leave.
-
Controlling risk through managed account
Can be simple stand-alone master funds or can grow to include several special purpose vehicles
-
Regional banking in throes of light and darkness
Loan-loss provision growing but lenders withstanding crisis
