Indian information technology giants like Infosys, TCS and others must not be inhibited in selling their services in non-English speaking countries such as China, Japan and Korea, and must look at opportunities in other markets as well.
Indian information technology giants like Infosys, TCS and others must not be inhibited in selling their services in non-English speaking countries such as China, Japan and Korea, and must look at opportunities in other markets as well like Europe, Canada, Australia, etc. Commerce and Industry Minister Piyush Goyal asked industry body NASSCOM and the senior members of big IT companies to share specific data regarding non-tariff barriers being faced by them in China and other East Asian markets.
Piyush Goyal held a meeting with senior managers of TCS, Infosys, Wipro, HCL Tech, NIIT Tech, Tech Mahindra, Satyam Venture Engineering, Invento Robotics, and others, where Sangeeta Godbole, DG of Services Export Promotion Council (SEPC) and Debjani Ghosh, President of NASSCOM were also present. The meeting was aimed to discuss the opportunities for the Indian IT industry to grow their business in new markets like the Nordic countries, Eastern and Central Europe, Canada, Australia, and Africa.
Piyush Goyal asked IT industry representatives to seek opportunity for greater investments and growth in East Asian markets like China, Japan, and Korea, but he also urged India’s IT services companies to explore other markets and not be inhibited in operating in countries that are non-English speaking. “He urged the top five Indian IT firms to create a corpus that will be spent on training manpower in languages like Mandarin, Japanese and Korean for accessing the markets in these countries,” the ministry of Commerce and Industry said in a statement.
Piyush Goyal assured them that the government of India will provide the necessary support for the global growth of India’s flagship industry and will make possible efforts to facilitate the IT service industry. He added that the government is ready to engage with China, Japan, and Korea in this regard.
Representatives of the IT companies informed that India’s investments and business have not been able to grow in China due to various challenges and non-tariff barriers. They also added that Indian IT giants like TCS, WIPRO, Infosys, Tech Mahindra, and HCL are doing business in China for more than a decade and have been employing around 90 per cent of local people in their China operations but returns are very low and therefore Indian IT service companies do not have a reason to show much interest to invest and expand their operations in China.
- First published on Thursday, 1 August 2019 on www.financialexpress.com. Updated to recast the headline and lead in accordance with the ministry’s statement.