Dubai: A virtual meeting recently took place between representatives from the IT (information technology) industry to strengthen India’s electronics and IT trade with the UAE.
The ‘Virtual ICT Business Meet’ was organised by India’s Electronics and Computer Software Export Promotion Council (ESC) with the support of the Embassy of India, Abu Dhabi, between Indian and UAE industry to promote trade and cooperation in the ICT (information and communications technology) sector.
Releasing a booklet highlighting a brief profile of Indian tech companies, Pavan Kapoor, India’s Ambassador to UAE, said Indian software products and services are known for their quality and the world is increasingly looking at India as a leading source for them. India has an abundant, skilled workforce to supply, and its technology talent makes it one of the most competitive global markets. India is a leading destination for IT and IT-enabled services worldwide, accounting for approximately 55 per cent market share of the $200-250 billion global services sourcing business in 2019-20.
It is anticipated that economic and trade links between India and the UAE will deepen further and IT could play an important role in furthering the trade between the two countries, said Kamal Vachani, Regional Director, ESC in Dubai. The electronics and IT exports from India to UAE continue to show an upward trend. India’s electronics and IT exports to UAE in 2019-20 was worth $3489 million, up from $2465 million in 2018-19, said Gurmeet Singh, Executive Director, ESC.
“We are sure that the initiative will lead to further the ICT trade between both the countries,” Vachani said. The growth in export to Middle East countries “clearly shows the rising interest amongst the Indian ICT exporting community to explore Middle East and neighbouring countries for export prospects”. Vachani invited the Indian IT industry to explore GITEX Dubai, an annual electronics trade show, which “will further business between India and the countries in Middle East and UAE in particular”.
India's IT export volume
In late 1980’s, India’s IT export volume was a few millions of dollars and limited to the US; now India exports $155 billion to several destinations, be they developed, developing, or emerging nations, indicating the healthy status of the Indian IT industry, particularly the software and services, said Sandeep Narula, Chairman, ESC. It also goes on to show India’s inherent strength in the knowledge industry. Narula invited the UAE industry to explore the world of innovations by visiting the Council’s signature annual event ‘IndiaSoft Exhibition and Conference’, which is entering the 21st edition in March 2021.