New Delhi, Nov 05: ESC, the computer software export promotion council, has signed an MoU with Hungarian association of IT companies (IVSZ) to tap the expanding it market in Hungary and east European countries. "The MoU envisages active cooperation between the two countries in IT, sharing of information and exchange of delegations between both countries," an ESC press release said here.
"It is a timely step especially when India's export of hardware and software to hungary has been in the upswing with a solid growth of 358 per cent in 2002-03 as compared to the previous year, mostly driven by the growth in software exports," it said.
In absolute terms, software export went up from Rs 7.9 million in 2001-02 to Rs 154 million in 2002-03, a growth rate of 200 per cent, the release said.
The growing IT market in Hungary with focus on e-security, e-market and e-governance present enormous opportunities to Indian companies. With Hungary set to become full-fledged member of EU next year, Indian companies can use it as the gateway to Europe, D K Sareen, ED, ESC said.
Bureau Report