May 29: India launched its second IT corridor in China in an attempt to cash in on the Chinese software market. Establishing a new Digital Collaborative Opportunities Plaza (SIDCOP) in China, the National Association of Software and Services Companies (NASSCOM) said that the platform would help Indian IT firms in gaining a better access to the Chinese market.
Indian service providers and Chinese customers signed agreements worth RMB 36 million (nearly $6million) on the opening day of the corridor established by NASSCOM in association with China’s Guiyang Municipal government.
This is NASSCOM’s second SIDCOP platform in the Chinese market, with the first one being executed in Chinese port city Dalian in December 2017. Under the new platform, projects will be piloted and executed by next year.
Unlike the Dalian IT corridor, which focussed on IoT, the new Guiyang corridor will be having its focus laid upon Big Data. Gagan Sabharwal, Senior Director, Global Trade Development NASSCOM, has been quoted as saying by reports that the platform will help create both online and offline presence for promoting a ‘co-create culture’ between the two neighbouring nations in the space of Big Data.
The SIDCOP platform will also be receiving artificial intelligence assistance from Zeta-V, which according to Gautam Bambawale, the Indian Ambassador to China, will help marry the reuirements of Chinese companies with the capabilities of Indian IT service providers.
India has been attempting to reduce bilateral trade deficit that stands at over $51 billion at present, and the access to China’s market will play a crucial role in addressing the deficit. Ministry of Industry and Information Technology of China had valued the Chinese IT market at over $493 billion in 2013, and it has been ever-expanding since then.