Nasscom inks MoU with Nasdaq for Indian IT industrys growth
15 February 2003
Chennai: The National Association of Software and Service Companies (Nasscom) and Nasdaq, the largest stock market in the US, have inked a memorandum of understanding (MoU) to contribute to the growth and development of the Indian IT industry. The special emphasis of the MoU is to help Indian IT companies to address US capital markets.
Nasscom president Kiran Karnik says: “With Indian IT companies growing well in size as well as reputation, the next step for many companies would be to list in the US for better acceptance by customers. Our relationship with Nasdaq will facilitate this entry to be faster and easier for Indian companies. Further, as part of the MoU, Nasdaq will also promote the Indian IT industry among the big business houses in the US.“
“The Indian IT services industry has one of the fastest growth rates globally. This growth can be fostered further through greater access to the largest financial market in the world and its biggest market at the same time,“ says Charles Balfour, international head, office of the vice-chairman, Nasdaq.
As per the MoU, the two organisations will co-organise exhibitions, seminars, workshops and conferences for participation of key IT players in the US and India. The two organisations will also invite and host trade missions between the two countries as and when necessary to attend functions and programmes related to the software industry.