The National Association of Software and Services Companies (NASSCOM) has established one more Digital Collaborative Opportunities Plaza (SIDCOP) platform in China in an effort to provide market access to Indian IT firms in the huge Chinese market, the NASSCOM said. India launched its second “information technology corridor” in China on Sunday to cash in on the burgeoning Chinese software market, which remained elusive despite the presence of top Indian tech firms in the large Asian nation. India’s first IT corridor in China was launched in the Chinese port city of Dalian last December, with a focus on Internet of Things or IOT.
The newly established Digital Collaborative Opportunities Plaza (SIDCOP) platform at Guiyang in China provides market access to Indian IT firms in the huge Chinese market.
The Guiyang corridor will focus on Big Data. Last December, the NASSCOM established its first SIDCOP platform in the Chinese port city of Dalian, which is India’s first IT hub in China. Dalian corridor’s focus was on IOT (Internet of Things).
The corridor is aimed at setting up local offices and assisting companies from Guiyang to establish software and IT units in India.
India’s top IT firms have a big presence in China, specially multi-nationals and IT Corridor at Dalian which are expected to provide a gateway for the Indian IT-small and medium-sized enterprises.
India is a world leader in the area of Information Technology and IT-enabled services with annual revenue of over $164 billion and exports of over $120 billion. The country has been demanding China to provide market access to Indian IT and pharmaceutical firms for several years to reduce bilateral trade deficit.
For India, getting access to China’s IT market, valued at over $493 billion in 2013 by the ministry of industry and information technology of China, is important to address the massive trade deficit which has now spiralled to over $51 billion. The Chinese IT market grew exponentially since then.
The two corridors, which were started in collaboration with China’s provincial governments, are expected to provide the much-needed big opening for Indian IT firms.