'Indian IT industry should leverage diaspora expertise'

Monday, 10 January 2005, 20:30 IST
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MUMBAI: India's booming IT industry must leverage the expertise and links of its vast diaspora to boost its presence in the global marketplace, say industry experts. According to local industry representatives, overseas Indians must explore the possibility of investing in India to reap the benefits of rapid growth in the sector in the years ahead. "The knowledge economy is a very good area to connect with India," Saurav Srivastava, CEO of IT outsourcing firm Xansa India Ltd., told a session of the Pravasi Bharatiya Divas here. "The opportunities in the sector are phenomenal. We have just scratched the surface in terms of opportunities. There is enough critical mass to engage with and utilise the opportunities." Srivastava said since a large number of India-born technology professionals work with leading companies overseas, domestic firms could leverage their expertise to get increased market access. "Overseas Indians have already established credentials of our manpower in different parts of the globe. We must take advantage of this to further boost the presence of Indian companies overseas," he said. Anupam Mittal, CEO of People Interactive (India) Private Ltd., said overseas Indians should explore the opportunity of investing in India in IT education and infrastructure. "The domestic IT market holds huge potential for overseas investors. Investments in technology education and infrastructure up-gradation can be one of the attractive avenues." Mittal said the Indian diaspora could help the domestic technology industry in framing regulations for the industry in keeping with the international practices. Devinder Chawla, executive director of PricewaterhouseCoopers, said although the domestic IT industry had been growing at an impressive pace for the past few years, domestic IT spend continues to be sharply lower. "Indian companies must move up the value chain and increase market penetration to command premium price," he said. Listing the challenges before the Indian IT industry, Chawla said the biggest roadblock would be a shortfall in qualified and trained manpower in the years ahead. According to Chawla, India is expected to see a shortfall of over 200,000 professionals by 2008. Creaky infrastructure, language and cultural barriers in European nations also threatened to impede growth, he noted.
Source: IANS
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