Can Indian software ‘crack Europe’?
Mumbai, September 25:
Can Indian software firms “crack Europe”? This is the focus of business as India’s National Association of Software and Service Companies (Nasscom) looks at the market potential of major European destinations like Britain, France and Germany.
London-headquartered industry analyst firm Ovum plc, which focuses on the commercial impact of technology and market changes in telecom, software and IT services, will be talking to Indian business on the overall European IT services market size, growth and trends.
In events to be held in Mumbai (September 27) and Bangalore (September 28), Ovum’s Katharina Grimme and Samad Masood will focus also on characteristics and trends in key European countries (Britain, Germany and France), key vertical sectors and opportunities in these markets, demand trends in IT services and BPO and the key success factors for market entry.
Grimme is director of Ovum’s German office based in Cologne. She is an expert on the German ICT market and covers Ovum research, with a focus on the IT services and outsourcing space. According to Nasscom, India’s IT-linked growth momentum “continues to be strong”.
In Q1, 2006, it says, India crossed an “important milestone” delivering $129 million in revenues for the quarter and crossing the $500 million annual revenue threshold.
“Q2 2006 revenues were also strong, up by over 30 percent versus the previous year’s quarter and we continue to broaden our client base and increase the number of our strategic relationships,” says the trade body.
Nasscom calls itself “the premier trade body and the chamber of commerce of the IT software and services industry in India”.
This global trade body now is reported to have over 1,050 members, of which over 150 are global companies from the US, Britain, the European Union, Japan and China. Nasscom’s member companies are in the business of software development, software services, software products and IT-enabled/BPO services.
In October Nasscom is taking an IT and BPO delegation to Eastern Europe. Nasscom said that during Oct 4-10 the team will visit Budapest, Warsaw and Prague and as part of an initiative to explore new markets.
In November 2006 it takes an IT mission to Japan, which will include participation in the Embedded Technology 2006 (ET2006) meet at Yokohama. Nasscom sees its “primary objective” as being a catalyst for the growth of the software-driven IT industry in India.