Friends,

The world economy is on the road to recovery and business sentiments seem to indicate that the worst is over. There are some signs that decision making is coming back but unemployment remains a concern, though it is the least in the technology sector.

On our recent visit to the US, we heard the ongoing political debate on crucial areas such as healthcare, climate change and energy. While immigration is still a key issue, the debate is converging to a comprehensive bill. At our end, we are focused on educating different stakeholders in the US — policymakers, industry CEOs, analysts — about the benefits of globalisation.

Our view is that by globalising, keeping its doors open and trade barriers down, the US has enhanced its edge in the market and improved competitiveness. Globalisation has enabled the country to create more, rather than less jobs. A diverse workforce has been the key contributor in the innovation and research and development expertise of the US markets. We are continuing to provide our perspective and also urging our members to hire more local people in key markets.

While immigration is still a key issue, the debate is converging to a comprehensive bill. At our end, we are focused on educating different stakeholders in the US — policymakers, industry CEOs, analysts — about the benefits of globalisation.

Som Mittal President, NASSCOM

We are also improving our own global differentiators by providing customers across the world with an innovative and unmatched value proposition. As a part of this effort, we have strengthened our Software Product and Intellectual Property (IP) development initiatives. Though this industry is still in its nascent stage, we expect it to evolve as an important driver and the third wave of growth for the country’s IT industry.

Our annual Product Conclave, a yet another effort by NASSCOM to catalyse the growth of the software products sector provided a platform for the product ecosystem players and start-ups to convey and draw out a strategy on products. Additionally, the conference offered service providers an opportunity to reach out to prospects and customers, create a network effect of channels, user and development communities and pave the way for greater SMB activity.
We are optimistic that going forward, the product industry will achieve significant traction and replicate the success achieved by the IT-BPO sector.

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