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IT, ITeS hold promise for India-central Europe partnerships
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SME Times News Bureau | 07 Oct, 2015
The IT and ITeS sector has the
potential to unfold major cross-border partnerships between India and
central European economies, a report said here on Tuesday.
"The
key sector where India-central Europe business partnerships and
collaborations will gain significance is IT and ITeS sector," the report
-- India and Central Europe: Harnessing Business Complementaries --
compiled by the Federation of Indian Chambers of Commerce and Industry
(Ficci) said.
"The size of the strategically located Turkish IT
market is forecast to increase from $7.9 billion in 2012 to $14.4
billion by 2016, making it one of the fastest growing in emerging
Europe," it said.
"A dedicated talent exchange programme for
transfer of skills between India and Turkey will also be initiated as
part of the overall plans. Indian companies would do well to note that
while the large companies in Turkey have planned and invested in ITeS,
the SME sector could offer new business opportunities," it added.
In
keeping with India's core strengths in the IT and ITeS space, major
Indian firms in that space are scouting for business opportunities in
the central European region.
"A few such ventures have already
gained great traction. There are indications that eastern Europe is fast
becoming a go-to location for Indian IT players both for talent and for
the captives that dot the region," it added.
Investment ties are
also deepening in the pharma space. For instance, Romania is one of the
foremost central European countries to deepen partnerships with the
Indian pharma industry for research and development of new drugs.
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