IT companies exploring new markets in Africa, Middle East
Stating that the global economy is still "volatile and uncertain", National Association of Software and Services Companies (Nasscom) on Tuesday said Indian firms are exploring new markets like Africa, Japan, and the Middle East.
Kolkata: Stating that the global economy is still "volatile and uncertain", National Association of Software and Services Companies (Nasscom) on Tuesday said Indian firms are exploring new markets like Africa, Japan, and the Middle East.
Speaking to a news agency, Nasscom Regional Manager (East) Suparno Moitra said while the US and Europe remain major markets for software exports, new markets are also opening up for the Indian IT and BPO companies.
"The major markets for software exports is still the US (accounting for 62 per cent of exports) and Europe (28 per cent). There is also increasing demand from untapped emerging markets (10 per cent)," he said.
Moitra added, "Africa, Japan and Middle East are showing good response and Nasscom is working very closely to explore these markets."
Stating that there has been no adverse effects on the industry due to the current global scenario, he said, "the market is still volatile and uncertain and customers are cautious".
The Indian IT-BPO industry registered a total revenue of USD 101 billion for financial year 2012 and total software export was to the tune USD 69 billion.
IT industry body Nasscom has forecast a growth of 11?14 per cent for FY 2013 for the industry.
On West Bengal's potential in the IT sector, he said the state's greatest strength was manpower.
"If you consider West Bengal, our greatest asset is our people. We have strength and capabilities in the areas of analytics, design, engineering, animation. If proper support is given in these fields, West Bengal can be a leader," he said.
In the Eastern region, West Bengal is the top contributor to software exports followed by Odisha and Assam.
Total IT software export from Software Technology Parks of India (STPI) and Non-STPI units in West Bengal touched Rs 7,939 crore in 2011-12, registering a growth of 5.85 per cent.
For 2010-11, the total IT software export from Odisha (STPI units only) was Rs 1,253.59 crore and for Assam the figure would be to the tune of Rs 10 crore, Moitra said.