The UAE ranked top in the Middle East for India’s exports of electronic goods and IT services for the fiscal year 2013-14, the latest data has revealed.
The region attracted $3.81 billion exports, compared to $3.48 billion in the fiscal year 2012-13, showing more than nine per cent year-on-year growth.
“The Middle East is one of the fastest growing ICT markets in the world. High growth prevails across all segments, and the market is driven by economic diversification and various e-government initiatives in sectors like finance, communications and manufacturing,” Kamal Vachani, honourary regional director of Electronics and Computer Software Export Promotion Council (ESC) for the UAE and Middle East, told Khaleej Times. Electronics goods exports to the regional countries jumped by 6.66 per cent to $1.74 billion during 2013-14, compared to $1.63 billion million in the year 2012-13. Amongst the regional countries, UAE is the top destination for India’s electronics export followed by Saudi Arabia and Turkey, Vachani informed.
India’s exports of software and related services to Middle East also registered a double-digit growth of 11.74 per cent in 2013-14. It increased from $1.85 billion in 2012-13 to $2.07 billion in 2013-14. Responding a question, Vachani said that specific country data is not available at the moment, but the UAE is on top for sure. India’s total export of electronics hardware during 2013-14 is estimated to be $7.66 billion.
He said that the region continues to enjoy solid growth rates despite global slowdown. A number of Indian companies, therefore, find Dubai an ideal location for enhancing their businesses, he added. To further strengthen the IT relations between India and the Middle East, the ESC is inviting a large delegation from Middle East to visit India for INDIA IT SHOW 2015, the largest IT global networking event in India. It is scheduled on February 12-13, 2015 in New Delhi.
Around 500 software & services buyers from more than 75 countries will be present at this business-to-business (B2B) partnering forum from the US, the UK, Europe, Middle East, Japan, China, Korea, Latin America, Africa, CIS, ASEAN region etc. “The show is meant to facilitate joint ventures, collaboration and strategic alliances for outsourcing with overseas buyers,” informed Vachani. The event will provide participants an opportunity to broaden their vision and take business to growth trajectory.
Gitex Technology Week
This year, 40 Indian ICT companies are participating at the show under India Pavilion. The IT event is scheduled to he held in Dubai from October 12-16, 2014.
India pavilion will highlight innovative ICT products & services including computer software, power supply equipment like invertors, UPS, telecom cables, a range of telecom products and computer hardware products, according to Kamal Vachani.
Gitex is continuing to emerge the largest and the most impressive ICT event of its kind in the Middle East, he said, adding: “Naturally, India has a great stake in the booming Middle East, Africa, Asia and European markets for which Dubai is the gateway. Thus the event provides the participating Indian ICT companies opportunities for scouting the expanding Middle East market.”
ESC has been participating at the Gitex consistently for several years and the participating Indian companies under ESC’s banner have reported high degree of satisfaction. The participating Indian companies have reported to bag significant businesses, forged joint ventures, marketing tie-ups, etc. with the buyers visiting the exhibition.
“ESC has been facilitating Indian participation on a regular basis at Gitex to take advantage of the booming IT market in the Gulf and leveraging that association for getting businesses for Indian IT companies from multitude of large global corporations, which are executing projects in the region,” Vachani concluded.