The IT industry body National Association of Software and Services Companies (NASSCOM) has announced that it has signed a Memorandum of Understanding (MoU) with Dubai Internet City (DIC), an imminent tech community with the fundamental goal to expand Indian business dealings in the Middle East.
With the pact, DIC aims to provide a comprehensive ecosystem and infrastructure for NASSCOM’s small and medium-sized enterprises (SMEs) to broaden its operations in the United Arab Emirates (UAE) and the North Africa (MENA) region.
Confirming the agreement and pointing the massive capability of the tech firms, Ammar Al Malik, Managing Director of DIC and Dubai Outsource City (DOC) said
The Middle East offers tremendous growth opportunities for innovative tech firms, with huge untapped potential. The $8 billion UAE tech industry is growing rapidly. The Dubai-based leading technology business community in the region serves as a natural launch pad for Indian technology businesses looking to expand their operations into the region.
DIC, is an investment arm of the global conglomerate, Dubai Holdings and has developed a thriving ecosystem for various tech organizations.
Commenting on the development, Kamal Agarwala, SME Council Chair, NASSCOM
As the apex body for the $154 billion Indian IT-BPM industry, we have strived to ensure the continued growth of the sector, facilitate partnerships, and fuel expansions. We firmly believe that this MoU will serve as a major catalyst for Indian businesses to expand into the region.
In a yet another recent development, NASSCOM has partnered with the government of Hiroshima in an agreement to co-invest in build a Japan-India IT Corridor. With a massive talent pool in India, the project aims to promote B2B cooperation and talent transfer.
The process will be initiated formally in 2019. Mr. Atsuhito Uemaru, Chief of Innovation Promotion, Hiroshima Prefectural Government, on the collaboration of the two countries, said
We have cutting-edge manufacturing technology, the brand new School of Informatics and Data Science at Hiroshima University and other high-class institutions, and top-class incentive packages for companies setting up new offices in Hiroshima. For achieving sustainable growth in Hiroshima, what we lack is a cluster of IT and software industry. Through our collaboration with NASSCOM, we would like to serve as a gateway for Indian companies to enter the Japanese market and vice versa, to build an ecosystem beneficial for the growth of both Indian and Hiroshima companies.
NASSCOM hopes to augment its technological potential as well as strengthen ties between the countries, through the collaboration.
Additionally, in a move to bolster entrepreneurship space in the country, NASSCOM is set to launch the 15th-anniversary edition of its NASSCOM Product Conclave with a theme of the event this year is ‘Product Mission 2020: Are We Ready?’ The conclave will provide a platform for innovators, speakers and aspiring entrepreneurs to participate, pitch in ideas and build their network with industry experts and interact.
Key Speakers of the event will include - Amitabh Kant, CEO at Niti Aayog; Kush Saxena, CTO at Mastercard; Girish Mathrubootham, Founder and CEO at Freshworks Inc; Moises Cohen, Co-Founder and Board Director at The Floor, among others.