Dubai: India’s IT export to the Middle East is likely to touch the $1billion mark in the next two-three years from $873 million in 2006, a top official of a trade promotion body has said.
Electronic and Computer Software Export Promotion Council (ESC), part of India’s Communication and Information Technology Ministry, has formed a strategy to increase IT exports through SMEs, ESC Chairman Sanjay Narayan said in an interview.
As per the strategy, SMEs would target export markets with a focus on the Middle East, Latin America and Africa. Currently, more than 65% of India’s IT exports go to the US while 25% is targeted at Europe.
“Dubai can act as a hub for Indian IT exports to the whole region (the Middles East),” said Narayan, who was here to attend Gitex 2007 (Gulf Information Technology Exhibition), the largest IT show of its kind in the region.
“The SME sector has a huge cost advantage since they can develop tailor-made solutions for a particular sector,” he added. India’s total IT exports are growing at more than 30% annually and are expected to cross $50 billion in early 2008, the official said.
“IT exports from India to the Middle East, particularly to the UAE have increased substantially in recent years. We see huge potential for further growth,” ESC regional director in Dubai Kamal Vachani said.
“It is expected that the initiatives and the aggressive marketing strategies taken by ESC will surely help in augmenting India’s ICT exports globally particularly to this region,” Vachani said.