Dubai-UAE: – Dubai Internet City (DIC), the leading technology community in the region, signed a Memorandum of Understanding (MoU) with The National Association of Software and Services Companies (NASSCOM), a non-profit trade association and an apex body of the Indian IT Business Process Management (BPM) industry. The MoU is the first of its kind in the Middle East and North Africa (MENA) region and aims to attract and encourage Indian small and medium-sized enterprises (SMEs) to the UAE. 

To boost the SME ecosystem in the UAE, DIC, as part of the MoU, will provide NASSCOM’s SME members the opportunity to develop their operations by offering support and a platform to expand in the MENA region, further translating the Dubai Strategy for Innovation into action and supporting the vision to become the Smartest City in the world.

 The MoU was signed by Ammar Al Malik, Managing Director of Dubai Internet City (DIC) and Dubai Outsource City (DOC) and Kamal Agarwala, SME Council Chair, NASSCOM. DIC is mandated to provide Indian tech startups and SMEs an opportunity to establish themselves in Dubai and get access to the largest technology community, providing them with a gateway and necessary support to grow in the UAE and the wider region.

Speaking on the potential outcomes of the MoU, Ammar Al Malik, Managing Director of Dubai Internet City (DIC) and Dubai Outsource City (DOC), said: “The Middle East offers tremendous growth opportunities for innovative tech firms, with huge untapped potential. The US$8 billion UAE tech industry is growing rapidly and DIC, as the leading technology business community in the region, serves as a natural launch pad for Indian technology businesses looking to expand their operations across the region.”

Dubai has welcomed an increasing number of Indian businesses over the past few months in a bid to strengthen bilateral trade between the UAE and India – on track to hit US$100 billion (AED367.3 billion) by 2020. This includes a landmark new decision between UAE and India to allow businesses to transact directly in their national currencies. Additionally, Indian tourist numbers to the city grew by 15 per cent last year, crossing the two million mark – the first for any country in a single year. 

Kamal Agarwala, SME Council Chair, NASSCOM, said: “As the apex body for the US$154 billion Indian IT BPM industry, we have strived to ensure the continued growth of the sector, facilitate partnerships, and fuel expansions. This is the first MoU of its kind in the region and Dubai’s vision and efforts to become the smartest city in the world, are second to none. Dubai Internet City is already home to leading technology Indian companies, and we firmly believe that this MoU will serve as a major catalyst for Indian businesses to expand into the region.”

Debjani Ghosh, President, NASSCOM, said: “DIC has provided a great support system and platform to help Indian SMEs establish their businesses here with the potential of expanding their operations to the wider Middle East region. We are excited about this collaboration with DIC that will fuel the growth of Indian technology businesses here.”

DIC is home to leading Indian multinationals, including Tata Consultancy Services, Tech Mahindra, Wipro, and HCL Technologies. The integrated community hosts a large number of Indian professionals within its 24,000-strong workforce, which includes diverse workers from over 150 nationalities.

-Ends-

About Dubai Internet City

Dubai Internet City (DIC), a member of TECOM Group, is a unique ICT hub and is the only specialised technology business community in the region, it is a place where innovators and entrepreneurs from all over the world work, connect and share their vision for a bold new tomorrow.

About NASSCOM

NASSCOM, a not-for-profit industry association, is the apex body for the 154- billion-dollar Indian IT BPM industry. Established in 1988, NASSCOM has relentlessly catalysed the Indian IT BPM Industry in its journey towards building an innovation led growth sector, with transformative business models, expanding its value proposition and becoming a partner of choice for global businesses.

For more information, please contact:

Sharon Alvares

APCO Worldwide

+971 (0) 52 863 1778 

salvares@apcoworlwide.com   

Kavita Doshi

NASSCOM

+ 91 120 4990200

kavita@nasscom.in 

© Press Release 2018

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.