Nordic region offers opportunity for Indian IT

NEW DELHI, INDIA: NASSCOM, the premier trade body of the IT software and services industry in India, and PricewaterhouseCoopers today released a report titled ‘Opportunities For Indian IT Industry: Nordic Countries’.

This third report in the series focuses on specific countries/regions which are new markets, competitive destinations and/or potential partners for India, said a press release. The earlier two reports featured China and Japan.

While releasing the report, Ameet Nivsarkar, vice president, NASSCOM said Indian IT-BPO companies are fast diversifying into new territories and opening up further opportunities for growth.

“Currently, 90 per cent of the exports are focused on United States and Europe with rest of the world contributing just 10 per cent. The Nordic region with very high ICT adoption, besides R&D investments offers an untapped opportunity for Indian IT companies and another potential entry point to Europe”.

Abhijeet Ranade, Associate Director, PwC said rather than looking at the Nordics in isolation, Indian IT-BPO companies should target the region as a first step towards a larger presence in the European multilingual and multicultural mainland. “This will also enable the IT-BPO organizations to develop and drive their strategy for small and medium businesses”

The report also said that Indian IT-BPO companies should focus on manufacturing, telecom, public sector, banking and financial services. In addition, shipping and logistics in Denmark and Norway, oil and gas in Norway; forest and paper products industries in Finland offer specific opportunities within the region, it said.

It also pointed out that Indian companies should invest in the relationship and success in the Nordic region will to a large extent depend upon how Indian companies approach the Small and Medium size companies from the region.

Engineering services, Remote Infrastructure Management (RIM) are quick win opportunities for Indian companies, according to NASSCOM. These services leverage technical expertise of Indian companies and offer a good fit with respect to Nordic requirements of technical innovation and talent shortage.

It also said Indian companies should consider non voice-based transaction services of local companies.

The report observed that Indian vendors should look at large-ticket acquisitions as a viable strategy to establish themselves in the Nordic market.