At least 200 IT professionals must have marked October 23, 2001, on their calendars as the day they'd familiarize themselves with the Indian software and services industry. A special event, hosted jointly by Nasscom and global business daily, Financial Times in London, UK, transported attendees to sophisticated, hi-tech facilities, software factories, and centers across India, that are now serving the IT needs of global customers and Fortune 500 majors.
India Europe IT Summit London By Coin Master
Key decision-makers, bureaucrats, academicians, and business leaders of leading corporations in the UK and other European nations listened in rapt attention as speaker after speaker pointed out the advantages of India as an IT outsourcing destination. Attendees at the seminar were treated to a variegated fare comprising talks by Indian and global IT industry gurus, presentations by key Indian software companies, and customer case studies.
The one-day Europe IT Summit@London made a strong case for India's software and services prowess, and the viability of the country as an outsourcing venue. Over 75 small, medium, and large software companies, representing the Who's Who of the Indian IT industry, put forth the reasons why one in four global leaders were coming to India for the fulfillment of their software and services requirements. The summit, a part of Nasscom's initiatives to help Indian IT companies expand into new markets, focused on identifying new business opportunities for these European vendors.
Speaking on the initiative, Mr. Phiroz Vandrevala, Chairman, Nasscom said, "Europe is the second-largest ICT market with 29% share after the US and today is growing at a pace above the world average. There is a huge untapped potential in IT and E-business that can be outsourced to India as Europe is also facing a shortage of skills in these areas."
The theme for a dream
The summit, flagged off by Mr. Douglas Alexander, Minister for E-commerce, Department of Trade and Industry, UK Government, had as its theme Outsourcing to India: Setting a course for value. This theme highlighted the cost-effective IT outsourcing capability of India.
The discussion agenda included issues such as Europe's need for IT solutions, India's advantage in terms of infrastructure and skilled human resources, the alternate business models companies can leverage, the challenges faced by Indian companies, and Europe's experiences in working with Indian businesses.
The summit presented an opportunity for Indian companies to network with over 180 delegates including speakers from leading organizations such as Ford, BT, HSBC, and the London Stock Exchange.
Financial Times also published a survey conducted by a team of senior journalists from India and the UK, on outsourcing from India in its October 17, 2001 issue as part of this initiative. This survey appeared in the worldwide edition of the Financial Times and was distributed at the summit.
Commenting on the summit, Ms. Louise Hunter, Director, of Financial Times Conferences, said, "India has become the outsourcing destination for many global organizations wanting to cut costs while maintaining strategic software development. We At Financial Times, through this summit with Nasscom, are providing a platform for European companies to leverage India's competent outsourcing capabilities and gain competitive advantage by concentrating their resources on core competencies."
