The National Association of Software and Services Companies (Nasscom) on Monday said it has signed a Memorandum of Understanding (MoU) with Dubai Internet City (DIC) to facilitate expansion of Indian businesses in the Middle East.
The agreement, the first of its kind in the Middle East and North Africa (MENA) region, is aimed at attracting Indian small and medium-sized enterprises (SMEs) to the United Arab Emirates (UAE).
To boost the SME ecosystem in the UAE, the leading technology community in the region, as part of the MoU, will provide opportunity to the members of the non-profit trade association by offering support and a platform to expand in the MENA region.
Commenting on the potential outcomes of the pact, Ammar Al Malik, Managing Director of DIC and Dubai Outsource City (DOC) said: "The Middle East offers tremendous growth opportunities for innovative tech firms, with huge untapped potential. The $8 billion UAE tech industry is growing rapidly."
The Dubai-based leading technology business community in the region serves as a natural launch pad for Indian technology businesses looking to expand their operations into the region, he said.
Kamal Agarwala, SME Council Chair, Nasscom, said: "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. We firmly believe that this MoU will serve as a major catalyst for Indian businesses to expand into the region."
--IANS
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