Japan tech cos target Indian soil

NEW DELHI: "Japanese IT companies are interested in setting up base in India and Noida and will have a strong focus." Minister of science and technology, Japan Motegi Toshimitsu stated this while emphasizing the growth of the IT industry in Noida. He was in Noida to visit the Logix Park. Built in an area of 1,20,000 sq. ft, the Logix Park, IT Enfraservices' first IT park is working as an incubation unit and is home to thirty IT companies.

The Japanese minister praised the rapid strides India has made in the field of IT. The IT services market in Japan is estimated at $60 billion per year. And, approximately $3 billion is outsourced from abroad, out of which, Indian IT companies have a market of $190 million, per year. The progress of Indian IT companies has been slow, even though 70 Indian IT companies have established themselves in Japan. The Japanese market currently accounts for about three percent of the Indian global IT services exports.

CEO of Logix Park, Shakti Nath talked about the new tech park, which is being set up in Noida. It would be completed by February 2005, he informed.

Nath also informed, "The total project cost of Logix Techno Park is Rs 80 crore and is supported by Canara Bank. The park would have 6000-trained professional and a support staff of 300 people working round the clock. This would generate huge employment opportunities and high foreign exchange earnings by means of software exports."