National Association of Software and Service Companies (NASSCOM), India and Dubai Internet City (DIC) entered into a memorandum of understanding on February 8, 2001. DIC has entered into the MOU for and on behalf of the Dubai Technology Electronic Commerce and Media Free Zone (TECOM) by virtue of Decree No 1 of 2000, Dubai.
NASSCOM and DIC are keen to contribute to the growth and development of the IT industry and help expedite and maintain the co-operative relations between the two countries. Under the MOU, the secretariats of NASSCOM and DIC shall act as the primary channel for the cooperation between IT industries of the two countries. The two organizations shall manage the exchange of information and trade missions of IT industry and also facilitate joint venture alliances among member companies.
The main areas of cooperation will include sub sectors of the IT industry including IT software and services, Internet, e-commerce, information security, content development, human resource development, knowledge economy, VC, R&D, etc. NASSCOM and DIC shall cooperate to promote the exchange of IT trade missions and business delegations amongst the two
countries. They will also act as facilitators for building alliances with each country's companies and promoting bilateral relationships, as facilitators of investment including VC in IT industry between the two countries.
Both shall cooperate in arranging joint surveys, research projects and seminars and exchange their own periodicals, non-periodical publications and research and survey reports. They shall conduct the mentioned activities through regular consultations between the secretariats of NASSCOM and DIC. The MOU may be modified if required from time to time by mutual consent.