India on May 27, 2018 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).
1. 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.
2. 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.
3. While the focus of Dalian corridor was on IOT (Internet of Things), the Guiyang corridor will focus on Big Data.
4. The initiative is being replicated in other Chinese cities as well.
5. The pilot projects launched on the SIDCOP platform would be executed during 2019.
6. The Dalian IT corridor was formally launched a few days ago.
7. The launch ceremony saw the participation of more than 350 representatives from Indian and Chinese companies.
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. Indian IT companies have a presence in more than 70 countries in the world, generating employment for up to 12 million people worldwide. 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.