and the London Stock Exchange (www.londonstockexchange.com)
today signed a memorandum of cooperation committing the
two organisations to work together for the benefit of
the Indian IT industry.
LSE chief executive Clara Furse: This agreement reinforces
the exchanges commitment to Indian IT companies. The
IT industry in India is expanding at an impressive rate
and, for this to continue, companies will need access
to further capital.
adds: London is home to more international capital than
any other financial centre in the world but, more importantly
in the current environment, it offers world-leading standards
of corporate governance and market regulation. These advantages
mean that London is increasingly becoming the first choice
for Indian IT companies that want to fund their future
Nasscom president Kiran Karnik: The UK is the second
largest market for Indian IT services companies, accounting
for about 12 per cent of the total Indian IT exports.
The need today is for Indian companies to consolidate
and expand their presence in the UK and Europe and to
engage with this important financial market to raise capital.
memorandum of cooperation with the LSE, he adds, envisages
the fulfilment of both these objectives to enable Indian
IT companies to explore new horizons with the UK and Europe
in the technology sector.
memorandum commits the LSE and Nasscom to share research
and market data, organise joint marketing events and seminars,
and to work together to promote the advantage of a London
listing to Indian IT companies.