'Indian IT firms must explore German market'

Tuesday, 08 April 2003, 19:30 IST
Printer Print Email Email
NEW DELHI: The rapidly growing German software market offers huge export opportunities for Indian software development and solutions companies, according to the Indo-German Export Promotion Project (IGEP). The German software and services market grew by approximately ten percent last year, touching 25 billion euro, said IGEP in a press statement issued Monday. India's software and service exports to Europe touched 67.54 billion last year, accounting for nearly 24 percent of the country's total software exports, the statement added. Germany alone accounted for almost 9 billion. It is the second largest market for India after Britain. Major Indian software companies used CeBIT, one of the world's largest IT shows that ended in Germany recently, as springboard to showcase their strength, the IGEP statement said. The joint India participation at CeBIT 2003 was organised by the National Association of Software and Service Companies, the ministry of information technology and the IGEP.
Source: IANS