IT industry body NASSCOM has signed a Memorandum of Understanding with Dubai Internet City to enable the expansion of Indian Small and Medium Enterprises’ operations in the Middle East and North Africa Region (MENA). The MoU was signed between Ammar al-Malik, MD of Dubai Internet City and Dubai Outsource City and Kamal Agarwala, SME Council Chair, NASSCOM.
In the agreement, Dubai Internet City is mandated to provide Indian SMEs and tech startups an opportunity to grow their presence in Dubai and the Middle East. The same will be facilitated by providing access to the largest tech community and providing a gateway and support to grow in UAE and other MENA regions.
“As the apex body for the USD 154 billion Indian IT-BPM industry, we have strived to ensure the continued growth of the sector, facilitate partnerships, and fuel expansions,” said Kamal Agarwala, SME Council Chair, NASSCOM.
The United Arab Emirates is witnessing a rapid growth in the tech industry which is valued at more than $8 billion currently. DIC will serve as a launchpad for Indian tech startups being the leading technology business infrastructure and community in the region. DIC currently holds the prestige to have tech giants like Tata Consultancy Services, Tech Mahindra, Wipro, and HCL Technologies.
The trade between Indian and Dubai is expected to reach $100 billion in the next three to four years. With the continued effort to strengthen the bilateral trade relations between the two nations, the integrated community has already reached a height to host a large number of Indian professionals. DIC has a strong workforce of more than 24,000 professionals from over 150 different countries and region. This tie-up will add fuel to fire by enabling transactions directly in the national currencies to ease the process of doing business across the two nations.