Dubai: To tap the fast growing information and communications technology market of West Asia, 40 Indian ICT companies will participate in GITEX Dubai 2012, an industry body has said.
GITEX is the largest and the most impressive ICT event of its kind in West Asia and is now ranked as one of the top three ICT exhibitions in the world, it added.
“India has a great stake in the booming Middle East, Africa, Asia (WANA Region) and European markets for which Dubai is the gateway. Thus, the event provides the participating Indian ICT companies opportunities for scouting the expanding burgeoning entire Middle East market,” said Kamal Vachani, ESC Regional Director, Middle East.
Vachani said 40 Indian ICT companies are exhibiting this year at the India Pavilion, which indicates the growing interests of the Indian companies in the West Asian region.
ICT products on display at the pavilion will include almost all kinds of computer software, power supplies, inverters, UPS, telecom cables, a range of telecom products and computer hardware products.
“The Middle East region is one of the fastest growing ICT markets in the world. High growth prevails across all segments and the market is driven by economic diversification and various e-government initiatives including finance, communications, and manufacturing,” the statement said.
According to research conducted by economic and financial analysts Global Insight, the U.A.E. is at present spending $11.4 billion on ICT and the figure is set to rise to $16 billion by 2012, it said.
“The Indian ICT industry looks very keen to cater to total IT solutions and forge business tie-ups, strategic alliances in sectors, including telecommunications, utilities, tourism, financial services and real estate segments,” it added.
Electronics and Computer Software/Services, which includes IT-enabled services, has emerged as a strongest export sector from India with an estimated export of $76.90 billion during the year 2011-12.
Software and ITeS export accounts for $68 billion and electronics hardware export is estimated to be around $8.88 billion.
West Asian countries have become the second top destination for India’s electronics hardware export during 2011-12, the statement said.
It is estimated that electronics goods export to the West Asian countries during 2011-12 is valued at $1.83 billion, up from $1.27 billion in 2010-11, it said.