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Korea‚ India Hold IT Forum in Seoul Amid Growing Ties

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저작자 미상 (저작물 2267374 건)

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공표년도

창작년도

2011-03-14

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The Korea-India Comprehensive Economic Partnership Agreement‚ or CEPA‚ took effect in January 2010.
Both countries have greatly benefited from this agreement as Korea's exports to India surged and India became Korea's fifth-largest export market.
Also‚ since India's domestic demand is growing rapidly and the country is able to provide an educated labor force it can also play a role as an economic growth engine for Korea.
"The Indian Embassy and the Indian Chamber of Commerce in Korea held a forum in Seoul on Monday to promote the two countries' relationship."
Despite the economic cooperation between the two sides‚ Korea and India must still work together to better understand each other.
[Interview : Chang Kook-hyun‚ Secretary General
Indian Chamber of Commerce in Korea] "India is geographically close to Korea‚ but we feel very distant because of the different cultures. Therefore‚ both the government and private sectors must make efforts to maximize the effects of CEPA."
India's economy is growing at close to nine percent and since it also has huge consumption it can offer many more opportunities for Korean companies.
The President of India's National Association of Software and Services Companies‚ Som Mittal‚ forecasts that the IT sector will grow by 18 percent in 2011.
He went to say that their IT services revenue currently stands at 60-billion US dollars and expects it to grow by another 80-billion by the end of this year.
[Interview : Som Mittal‚ President
NASSCOM] "Right now‚ our share in Korea is very‚ very small‚ and we hope that with this kind of conference we're having in collaboration we'll be able to increase that. Currently‚ most of the IT work is done within Korean companies themselves‚ but the model is changing. I think we bring great value for Korean companies."
With the India-Japan CEPA also set to take effect within this year‚ it is important for Korea to boost its efforts to maintain its competitiveness in the Indian market since the competition between Korea and Japan for this growing market is likely to intensify.
Oh Jee-hyun‚ Arirang News.
Reporter : jhoh@arirang.co.kr

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