Nasscom to assist member firms in exploring newer markets

CHANDIGARH: To reduce dependency on developed markets and to give fillip to software exports, National Association of Software and Services Companies (Nasscom) is assisting member companies to explore new markets such as Israel, Africa, Sweden, Denmark, Japan, China etc.

Vijay C Roy

Tribune News Service

Chandigarh, August 5

To reduce dependency on developed markets and to give fillip to software exports, National Association of Software and Services Companies (Nasscom) is assisting member companies to explore new markets such as Israel, Africa, Sweden, Denmark, Japan, China etc.

According to Nasscom, the overall revenue of the IT sector was $145 billion in 2015-16. Out of this, the value of exports was to the tune of $108 billion. The USA has a major part of software exports (60%), followed by UK (17-18%) and the rest of Europe (11%). Nasscom has set a target of 10-12% growth in IT-BPO exports for the year 2016-17.

Shivendra Singh, vice-president, Global Trade Development, Nasscom, said, “ While the US, the UK and the rest of Europe continue to remain major markets for software exports, we are exploring new territories and further planning to deepen our presence in the existing countries where there is a potential which is yet to be tapped. We are exploring newer markets like Israel, Africa, Sweden and strengthen our presence in the existing markets such as Denmark, Japan, China etc, where we have little presence.”

“Taking a step in this direction, we recently took a delegation to Tel Aviv, Israel, which was an initiative by Nasscom and the trade bodies in Israel to increase business relations. The focus of the delegation was security solutions, Internet of Things and innovation. The key objective of the visit was to provide the Indian companies with an exposure to the Israel’s innovation and IT environment and provide networking opportunities with the local companies,” he added.

He said, “Similarly, we are taking a delegation to Africa soon, as the country ranks among the faster growing markets worldwide when it comes to deployment of information technology. The objective of the delegation is to explore business and investment opportunities and strengthen business relations by identifying new projects, investment opportunities and local business partnerships etc.”