Nasscom Started Initiative for SMEs’ Global Expansion
To establish and serve to the market through its first edition of an SME program which offers a gateway to the US market for SMEs, Nasscom, IT-BPM industry’s trade association is looking to launch it in the US. Nasscom gave this information on its statement.
According to Nasscom, it helps to promote mutually-beneficial trade, investment and technological exchange opportunities between India and the US. This is one of the single largest export markets for the IT industry of India. This program, launched earlier this week.
It focuses to help the SME members of Nasscom with access to mature markets in the US. It includes cities like New Jersey, North Carolina, Ohio, Michigan and Texas.
Apart from meeting the top government officials, Governors of New Jersey, North Carolina, and Ohio. With this, companies across industries, economic development departments apart from law firms and consulting firms.
Vice President and Head of Global Trade Development, Nasscom, Shivendra Singh said, “the support of Nasscom comes to ensure hand-holding and providing shared services landing options in various target states at low-cost”.
Automation Alley which is a not-for-profit trade body located in Michigan that includes a low-cost shared services model of soft landing, regulatory and legal support. Facilitating such SMEs to engage with the local business ecosystem in the mentioned states. Association has come into an MoU with the Automation Alley.
The market of UK is the second-largest export for the It sector of India and in June this year, Nasscom has launched a program for its SMEs members to have support and benefits to enter the market. Help included incubation and engagement with companies of several sectors like, BFSI, retail, health, helping by compliance and regulatory requirements.
Export of IT and ITeS to the US was ($63.51 billion) 57 percent of the country’s total exports in 2016-17 111 Billion Dollars, PTI reported last year citing estimates from Electronics and Computer Software Export Promotion Council. Preceding the US, IT and ITeS exports to the UK stood at 18 percent, 20 billion dollars.