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India and US will partner together in IT to provide world-class software for the whole world
Potential of India and America joining hands to provide the world “Best of Class Software” is becoming more evident every day.
According to media reports, top US economic policy development and advocacy organisations along with India's NASSCOM have pledged "multilateral cooperation" to realise "the new potential for expanding mutual opportunities for both the countries in the IT sector".
The economic liberalisation process undertaken by the Government of India has begun to unleash the country's potential as an economic power, showcasing its strength in knowledge-intensive industries such as biotechnology, healthcare and Information Technology (IT), a joint statement issued by USIBC, CSI and NASSCOM after a meeting at the US Chamber of Commerce, headquarters of USIBC on Monday, said.
US-India Business Council (USIBC) is the largest policy development body of US promoting its economic interest, and Coalition of Service Industries (CSI) is a trade advocacy organisation. National Association of Software and Service Companies is an Indian trade body representing software and services industry.
These sectors are areas of strength to the US economy, creating the first opportunities for trade negotiators from India and the US to begin a meaningful engagement at the WTO on issues where the two countries unequivocally stand to gain through multilateral liberalisation, it said. President of NASSCOM Kiran Karnik pointed out that when NASSCOM first suggested bringing down the tariff in the IT sector to zero, the idea was dismissed as "crazy". But after further thought, it was adopted and today, India's IT sector earns 30 per cent of the foreign exchange.
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