Welsh signs MoU with Nasscom for a 'Gateway to Europe' for Indian IT companies

The Welsh Development Agency (WDA) today announced that it has signed a MoU with Nasscom. This will help promote and develop strategic alliances, joint ventures and partnerships between IT companies in India and Wales. The MoU was signed by Phiroz Vandrevala, Chairman, NASSCOM and Sir David Rowe-Beddoe, Chairman,

WDA.

The MoU will enable the WDA provide Indian IT companies detailed assistance from start-up through to a long term relationship. As a single point of contact WDA will support the investment process, provide onsite assistance and offer Indian IT companies a true 'Gateway to Europe' through Wales.

Under it, Nasscom and the WDA have agreed to implement a series of joint activities designed to further understanding and co-operation between the IT industry in Wales and India. The main areas of co-operation will include IT software and services, internet, e-commerce, information security, content development, human resource development, knowledge economy, venture capital, research and development.

"Indian IT software and service companies are increasingly expanding into newer markets and establishing a presence in various European countries. The UK is the most favoured destination for Indian software exports to Europe and we want to inform our members about the potential of Wales as an investment destination and agencies like WDA. Nasscom and WDA have agreed to a series of joint activities designed to further understanding about Wales as an ideal destination for Indian IT companies," said Phiroz Vandrevala, Chairman,

NASSCOM.

David Rowe-Beddoe, Chairman, WDA, said "The agreement with will be invaluable for Wales and will bring significant benefits to IT companies from India. The WDA will provide investors with a favourable business environment, knowledge based workforce, start-up costs that are among the most competitive in Europe, strong infrastructure facilities and a single point of contact for the investment process. Wales is ideally suited to provide Indian IT companies a launch pad into Europe."