 "NASSCOM inks MoU with Dubai Internet to expand Indian SMEs in MENA region")
IT industry body NASSCOM has signed an MoU with a leading technology community here to help small and medium-sized Indian enterprises expand their operations in the Middle East and North Africa region.
The MoU between the National Association of Software and Services Companies (NASSCOM) and the Dubai Internet City (DIC) is first of its kind in the Middle East and North Africa (MENA) region.
Under the agreement, the DIC will provide NASSCOM's, small and medium-sized enterprises(SME) members opportunity to develop their operations by offering support and a platform to expand in the MENA region.
The MoU was signed by Ammar al-Malik, Managing Director of DIC and Dubai Outsource City (DOC) and Kamal Agarwala, SME Council Chair, NASSCOM.
The DIC is mandated to provide Indian tech startups and SMEs an opportunity to establish themselves in Dubai and get access to the largest technology community, providing them with a gateway and necessary support to grow in the UAE and the wider region.
"The Middle East offers tremendous growth opportunities for innovative tech firms, with huge untapped potential," said al-Malik, Managing Director of DIC and DOC.
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The USD 8 billion UAE tech industry is growing rapidly and DIC, as the leading technology business community in the region, serves as a natural launch pad for Indian technology businesses looking to expand their operations across the region, he said.
Dubai has welcomed an increasing number of Indian businesses over the past few months in a bid to strengthen bilateral trade between the UAE and India, on track to hit $100 billion by 2020.
This includes a landmark new decision between the UAE and India to allow businesses to transact directly in their national currencies.
Additionally, Indian tourist numbers to the city grew by 15 per cent last year, crossing the two million mark, the first for any country in a single year.
According to NASSCOM, there have been great efforts for the continued growth of the sector.
"As the apex body for the $154 billion Indian IT BPM industry, we have strived to ensure the continued growth of the sector, facilitate partnerships, and fuel expansions," said Kamal Agarwala, SME Council Chair, NASSCOM.
Dubai Internet City is already home to leading technology Indian companies, and we firmly believe that this MoU will serve as a major catalyst for Indian businesses to expand into the region, said Agarwala.
DIC is home to leading Indian multinationals, including Tata Consultancy Services, Tech Mahindra, Wipro, and the HCL Technologies.
The integrated community hosts a large number of Indian professionals within its 24,000-strong workforce, which includes diverse workers from over 150 nationalities.