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Nasscom Collaborates with Xuzhou to Develop IT Corridor in Eastern China

The two corridors paved the way for cooperation in emerging technologies such as AI, IoT and Analytics in the Chinese market.

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The new corridor will facilitate partnerships between Indian and Chinese firms as part of Nasscom's efforts to evangelise IT development in newer geographies. Pixabay

Indian IT apex body Nasscom on Friday said it has entered into a partnership with Xuzhou city in Jiangsu province to develop an IT corridor in eastern China.

“The partnership with Xuzhou is to help develop the software market and build the third IT corridor in Xuzhou after Dalian and Guiyang in the eastern China region,” the National Association of Software and Services Companies (Nasscom) said in a statement here.

The new corridor will facilitate partnerships between Indian and Chinese firms as part of Nasscom’s efforts to evangelise IT development in newer geographies.

As the centre of the Huai Hai economic zone, Xuzhou is an important national transportation hub. One can reach major industrial and economic hubs like Shanghai, Beijing, Hangzhou, Nanjing and Suzhou within three hours by high speed train.

“Through the partnership, the platform will enable match-making between Indian firms and their counterparts in the Huai Hai economic zone, looking to adopt digital transformation from verticals such as manufacturing, retail, automotive, healthcare and utilities,” said the statement.

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“The partnership will create more jobs in Xuzhou and India, facilitating talent transfer between the two countries,” it said. Wikimedia

“The partnership will create more jobs in Xuzhou and India, facilitating talent transfer between the two countries,” it said.

The apex body had created opportunities for 300 Chinese firms in the region, where 10 Indian small and medium enterprise (SEMs) signed deals valued at $4.5 million (Rs 315 crore).

Initiatives in the first two IT corridors led to investment of $4.6 million (Rs 322 crore) in Dalian and $8.9 million (623 crore) in Guiyang.

The two corridors paved the way for cooperation in emerging technologies such as AI, IoT and Analytics in the Chinese market.

The China-India (Xuzhou) IT corridor project is an important step for the Indian software and service industry to enter “our market and seize the development opportunity of the Huai-hai Economic Zone”, said Xuzhou Municipal government Mayor Zhou Tiegen.

The corridor will inject momentum into the development of the Xuzhou software service outsourcing industry.

The Mayor hoped that Nasscom will bring its advantages on capital, talent and technology as per the agreement to improve the construction, operation and development of the park.

“The corridor will help strengthen China-India digital cooperation leveraging our respective strengths in hardware and software to build innovative products and solutions in the co-create mode,” said Nasscom Director Gagan Sabharwal in the statement.

india-china, IT corridor
The China-India (Xuzhou) IT corridor project is an important step for the Indian software and service industry to enter “our market and seize the development opportunity of the Huai-hai Economic Zone”, said Xuzhou Municipal government Mayor Zhou Tiegen.
Wikimedia

As the eastern region is known for manufacturing capabilities, the apex body expects collaborative case studies emerging from the smart manufacturing domain.

“As the third collaboration, we hope the new corridor will act as a building block towards strengthening the India-Chinese relationship while we stimulate the ecosystem,” added Sabharwal.

India’s Consul General in Shanghai, Anil Kumar Rai, said that being a dominant manufacturing country, China required software, IT and IT-enabled services to transform into smart manufacturing.

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“The IT corridor at Xuzhou has the potential to fill the institutional void of software support for small and medium size industries in their language,” added Rai.

As the economic centre in the regional economic layout, Xuzhou is an industrial powerhouse, with several firms setting up their base in the city. (IANS)

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Report by NAASCOM Reveals Addition of over 1,300 Start-ups in India in 2019

While Bengaluru, Delhi-NCR, and Mumbai are home to 55-58 per cent start-ups in India, Jaipur, Ahmedabad, Kolkata and Kochi are the emerging start-up hubs in the country, said the report that Nasscom brought out in collaboration with global management and strategy consulting firm Zinnov

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Over 31 million people of Indian birth or descent are part of the Indian diaspora spread around the world. Of them, 3.1 million, or 10 per cent, are Indian-Americans living in the US.
The start-ups by Indian immigrants increased seven per cent over the prior period and a full 33.2 per cent of all start-up companies were founded by Indian Americans. Pixabay

India added over 1,300 start-ups, including 7 unicorns in 2019, making the country the third biggest start-up ecosystem in the world behind China and the US, according to a new report from industry body National Association of Software and Services Companies (Nasscom).

The total funding received by start-ups in 2019 stood at $4.4 billion, said the report, adding that total investment in the start-up ecosystem increased by 16 per cent year-on-year in 2019.

The cumulative valuation of the start-ups has now crossed $55 billion. The addition of 7 new unicorns in 2019 has brought up their overall number to 24, according to the report titled “India’s Tech Start-up Ecosystem”.

These 7 unicorns are Pune-based software company Icertis, Bengaluru-based Ola Electric, Delhi-based logistic courier service provider Delhivery, Gurugram-based cargo service Rivigo, Pune-based data protection and management-as-a service Druva, Mumbai-based fantasy sports platform Dream11 and Bengaluru-based online grocery store BigBasket.

The Indian start-up ecosystem has the potential to grow four times by 2025, it added.

Technology, Entrepreneurship, Resources
The approach is to create a bridge between the ‘physical’ and the ‘digital’, and between rural and urban through well-designed platforms, thereby amplifying the possibilities for creating start-ups across the country. Pixabay

“There are multiple levers propelling this remarkable growth of the ecosystem that are bolstering the Indian start-ups as well as creating an environment conducive for continued innovation,” said Nasscom president Debjani Ghosh.

“What stands out most starkly in this report is how various elements of the ecosystem are coming together in symphony to give rise to an orchestra of innovation – right from government support, evolution of the investor landscape, increase in participation from the corporates, growth of national digital infrastructure, to incredible global exposure,” she said.

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The report showed that during 2014-2019, an estimated 8,900 to 9,300 start-ups were born, with their overall base growing at 12-15 per cent year-over-year.

While Bengaluru, Delhi-NCR, and Mumbai are home to 55-58 per cent start-ups in India, Jaipur, Ahmedabad, Kolkata and Kochi are the emerging start-up hubs in the country, said the report that Nasscom brought out in collaboration with global management and strategy consulting firm Zinnov. (IANS)