IT to boost UAE-India bilateral trade
New catalogue profiling Indian tech companies launched
India and UAE are making good efforts to scale their economic and trade links to new heights and it is anticipated that economic and trade links between India and the UAE will deepen further, an industry veteran said.
Kamal Vachani, regional director of the Electronics and Computer Software Export Promotion Council (ESC) in Dubai, said the IT sector could play a very important role in furthering the trade between the two countries.
He was talking at the launch of a booklet highlighting a brief profile of Indian tech companies. He briefed Indian Ambassador to the UAE Pavan Kapoor about the new catalogue and said that Indian software products and services are known for their quality and the world is increasingly looking at India as a leading source for them.
India has an abundant and skilled workforce to supply, and its technology talent makes it one of the most competitive global markets. India is a leading destination for IT and IT-enabled services worldwide, accounting for approximately 55 per cent market share of the $200-$250 billion global services sourcing business in 2019-20.
India and the UAE share a vibrant relationship and this relationship extends beyond the usual buyer-seller ties.
“Today, the bilateral relationship has matured and transformed into a comprehensive strategic partnership as both countries continue to explore deeper cooperation in many new areas,” according to the ESC.
With an objective to augment India’s electronics and IT trade with UAE, the council, with the support of Embassy of India in Abu Dhabi, recently organised a Virtual ICT Business Meet between the Indian and UAE industry to promote trade and cooperation in the ICT sector.
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