GTECH to help State's enterprises find opportunities in Sweden, Finland, Norway and Denmark.
Thiruvananthapuram: The IT industry in Kerala is preparing to extend its footprint to the Scandinavian region of Europe for identifying fresh business opportunities and accelerating growth.
The Group of Technology Companies (GTECH) has unveiled a strategy to help small and medium enterprises (SME) in the IT sector scout for new business opportunities in Scandinavian countries.
Lull in U.K., U.S.
“The UK and the US markets are the current targets for the Kerala IT industry. But with the economies of these countries slowing down, there could be a cut on the IT spend of companies located here. The need to look at newer markets has never been greater. The Scandinavian countries present a good opportunity for the SMEs in Kerala to tap”, says Anoop Ambika, secretary, GTECH.
The strategy proposes to target Denmark, Sweden, Norway and Finland in the initial stage.
These countries face a demographic challenge and cost pressures to sustain their economic growth which is dependent on cutting edge technology and innovation.
According to GTECH, the IT industry in Kerala could play a critical role in sustaining the competitiveness of these economies by offering cost competitiveness and quality solutions. The new emerging sectors like Clean Technology, Health and Life sciences have been identified as the thrust areas.
First step
GTECH has formulated a structural framework for deeper engagement with Denmark and Sweden. As a first step, a delegation of government officials from these countries visited Technopark and Infopark recently to identify the potential business areas for the Kerala-based IT companies.
Shanker Subramaniam, Senior Investment Manager, ‘Invest in Denmark' and Srikant Illuri, Country Head, ‘Invest in Sweden,' both investment promotion agencies of the respective countries, were part of the delegation.
The delegation mooted the idea of GTECH taking a team of CEOs from Kerala to Nordic Countries to establish joint venture partnerships and identify business opportunities. “We have plans to bring in government representatives from some more countries in the near future,” says Anoop Ambika.
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