- India launched its second IT corridor in China to benefit from the nation’s growing software market.
- The IT corridor, Digital Collaborative Opportunities Plaza (SIDCOP) platform, was established in China’s Guiyang city by the National Association of Software and Services Companies (NASSCOM).
- The main aim behind the move is to provide market access to Indian IT firms in the vast Chinese market.
- During the launch of the corridor, agreements worth about six million US Dollars were signed between Indian service providers and Chinese customers by China’s Guiyang Municipal government and the NASSCOM.
- The pilot projects launched on the SIDCOP platform would be executed during 2019.
- NASSCOM had established its first SIDCOP platform in the Chinese port city of Dalian, which is India’s first IT hub in China, in December 2017.
- The Dalian IT corridor was formally launched a few days ago.
- While the focus of Dalian corridor was on IOT (Internet of Things), the Guiyang corridor will focus on Big Data.
- The launch ceremony saw the participation of more than 350 representatives from Indian and Chinese companies.
- The initiative is being replicated in other Chinese cities as well.
- The initiative will bring together Indian software and Chinese hardware and boost cooperation between the two nations in automation, artificial intelligence (AI) and other emerging IT fields.
- It will enable marrying of the requirements of Chinese companies with the capabilities of Indian IT service providers.
- India’s top IT firms have a huge presence in China, especially multi-nationals and IT Corridor at Dalian, which is expected to provide a gateway for the Indian IT-small and medium-sized enterprises.
- India has been demanding China to provide market access to Indian IT and pharmaceutical firms for several years to reduce the bilateral trade deficit.
- The two corridors, which were started in collaboration with China’s provincial governments, are expected to provide the much-needed big opening for Indian IT firms.