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Indian IT Exports to Germany
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Indian IT Exports to Germany is the upcoming profitable venture between the two countries, India and Germany. There exists active cooperation in the field of economy with the celebration of the 500 years of the establishment of Indo-German trade relations in the year 2005.
In the year 2000-01, Indian IT Exports to Germany registered a growth of 48 per cent amounting to $235 million. In the previous year, India's computer software and services export to Germany amounted to $160 million. In terms of Indian IT Exports to Germany, the latter nation is the third largest destination. An Electronics and Computer Software Export Promotion Council in order to increase the scope for Indian software exports in Germany, sent a delegation in the Cebit 2002 show that took place in Hannover in 2002. Since then the Indian IT Exports to Germany gained further impetus.
The Indian IT Exports to Germany has started after exporting to the US market, with the German IT services market worth as 26.5 billion Euros. The Indian software and services firms have started looking beyond their domestic boundaries to the European countries for further growth. There exists huge opportunity for them in Germany as this European country accounts for only 2.8 percent of India’s software exports. One of the software companies such as Hexaware have been quick to grab this opportunity. In the first half of 2004, of the 25 percent revenues from the European market 15 to 20 percent was contributed by the German unit of the Hexaware. At present, the clients of Hexaware are like Citibank, Lufthansa Systems and Deutsche Leasing in Germany.
Products under Indian IT Exports to Germany: India got a platform to display its huge potential in the German market as one of the highly competitive onsite provider and supplier of technology. Moreover India is also an outsourcing destination and a powerful center for research and development. Not only in terms of providing computer software and services export to the foreign countries, India is also gaining importance in newer services like packaged software implementation, systems integration, network infrastructure management, and IT consulting.
Factors facilitating the growth of Indian IT Exports to Germany: The factors facilitating the growth of Indian IT Exports to Germany are like the increased specialization, availability of a large section of low cost, but highly skilled, educated and fluent English-speaking workers for the development of the IT sectors in India. However, on the other hand, the rise in demand from foreign consumers interested in India's service exports and due to those foreign countries looking to outsource their operations the Indian software firms flourished.
The recent rise in the Indian IT Exports to Germany is due to some benefits as these exports do not require the purchase of hardware or software by the Indian company or the provision of any significant technology infrastructure within the country. Moreover, since the onsite exports are based on links with foreign collaborators, they do not require that standard of marketing and financing as competition within the open market would.
