Bangalore: Moving up in the value chain, India is becoming a global powerhouse,
according to world's premier Stock Exchange, Nasdaq.
In a special report on India, Nasdaq, which has recently set up its office in India
to act as a facilitator for Indian companies to have access to global funds,
said "Advances are taking place against a background of political stability, with a
government ready to make hard strategic decisions on everything from globalisation
of the economy to opening up of capital markets."
Stressing the strategic decisions taken in other areas such as Labour Laws,
privatisation and de-monopolisation, the report referred to the crucial initiatives
taken in the field of telecommunications.
India's climb up in the value chain was encountered time and again in the course of
the Nasdaq's look at the achievements and directions of so many areas of Indian
business activity, it said adding that "nowhere is this more evident than in the
hugely successful software sector".
The 36-page document made an in-depth study of various sectors in the country,
including the government's role.
Besides Software and Information Technology, the report looks into the future of
Biotechnology, Pharmaceuticals and Telecommunications besides making special mention
of success stories such as the Infosys Technologies and Satyam Infoway.
Commenting on Bangalore, the silicon valley of the country, the report said "it is
by far the most potent power-house of India's new technology industry".
It also carried an interview with late National Association of Software and Service
Companies (NASSCOM) Chairman Dewang Mehta, who had stated that the country was
moving up in the value chain of Information Technology.
"Having promoted India for so long for its cost and quality advantage, we are now,
in addition, looking at the position of India creating original technology which
others would follow" he had stated.
Efforts of the country would also be towards taking IT to the masses. "We do not
believe in digital divide. We believe in digital unity. We can use IT to spread
literacy and for health care. We want to take the benefits of IT to all the people
of the country" he had stated.
Referring to its presence in the country NASDAQ said "India is an exciting and
remarkable story, one we are proud to play a part in."
UNI
