Business | Technology
Indian IT exports to Mideast will grow 30%
India's IT exports to the Middle East are expected to cross $1.30 billion (Dh4.77 billion) this year, an increase of 30 per cent compared to $1 billion (Dh3.67 billion) last year, said Kamal Vachani, regional director of the Electronics and Computer Software Export Promotion Council of India (ESC) for the Middle East and UAE.
- By Naushad K. Cherrayil, Senior Sub-Editor
- Published: 00:45 April 27, 2008
Dubai: India's IT exports to the Middle East are expected to cross $1.30 billion (Dh4.77 billion) this year, an increase of 30 per cent compared to $1 billion (Dh3.67 billion) last year, said Kamal Vachani, regional director of the Electronics and Computer Software Export Promotion Council of India (ESC) for the Middle East and UAE.
According to ESC, an autonomous body under the Indian Ministry of Communications and IT, Indian IT exports are growing at more than 30 per cent annually and are expected to cross $50 billion (Dh183.5 billion) this year and touch $100 billion (Dh367 billion) by 2012.
"IT exports from India to the Middle East, particularly to the UAE, have increased substantially in recent years. We see huge potential for further growth as ESC is devising new strategies to expand its market share in the region," Vachani said.
Fast growing
He said the region is fast growing as an important export market for Indian IT industry predominantly because of the booming UAE market and its business-friendly atmosphere.
ESC plans to organise more sharply focused export shows that will give more exposure to Indian IT products and services.
"We expect 15 per cent growth in exports to UAE. ESC has put in great efforts in promoting hardware and software exports to UAE by organising buyer/seller meets, one to one meeting," he said.
"The Indian software industry has moved away from direct marketing to end-users in order to provide solutions to a host of operational areas in manufacturing and services. These are areas which are directly relevant to the Middle East and the neighbouring countries," he said.
He said with a motto to assist Indian IT companies build their foothold strong globally in 2008, Indiasoft 2008 conference, which was held recently in India, attracted good response globally.
"The exhibition was an excellent opportunity for participants to make contacts, showcase technologies, products, services in IT sector, identify initiatives and forge future collaborations and partnerships. The major thrust of the exhibition was to foster the commercialisation of new and emerging technologies by creating strategic alliances," he said.
The event generated over Rs20 billion business.
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