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Nasscom, the premier trade body and voice of the Indian IT BPO industry, and Pricewaterhouse Coopers, the leading professional services firm in India, today released a report on Japan titled Opportunities for Indian IT Industry: Japan. This is the second report in the Country Report series that focuses on specific countries , regions that are alternate markets, competitive destinations and or potential partners for India.
Speaking at the launch, Som Mittal, President, Nasscom, said, The Indian IT-BPO companies are fast diversifying into near territories and opening up new opportunities for growth. Currently, 90 per cent of the exports happen to the US and Europe, with rest of the world contributing just 10 per cent. These markets are investing in Information Technology IT offering huge opportunity. To facilitate this, Nasscom has launched the emerging market series.
Japan, as a second largest country economy and highly dependent on technology, currently constitutes only 2 per cent of our exports. With shortage of technical skills in Japan, and urgent need for business transformation, Japan would be a large market. While Indian companies have been targeting this market, a new concerted approach needs to be taken by both sides.”
Ambarish Dasgupta, Partner and Head of Consulting practice at PricewaterhouseCoopers India, the Knowledge partner for this report said, Indian companies must change the mindset, and move from being transactional to transformational in their approach, and be ready to invest in strong relationships upfront. The alternative markets to the US and the UK, like Japan, which we are covering in a series of reports, are very relationship focused. The prospects expect the partners to prove themselves in a relationship, building trust and being a trusted advisor rather than a vendor selling them products and services.”
As per the report, a key element for Japan to retain its competitiveness in the global market would need the proactive effort by the Japanese Government and industry to break the traditional models and they would have to reach out.
They would need to embrace globalisation, accept the advantages of outsourcing and find ways to open up service businesses with countries like India. Japanese business houses would have to view IT as strategic enabler, rather than a cost centre. They would also have to re-look at their current hierarchical structure of IT service providers to bring in best practices in domain, technology and service delivery.
Nasscom through this paper identifies key opportunities for Indian IT companies as well as potential strategies for this market. It also clearly outlines Nasscoms agenda to facilitate this.
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