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Exploit BPO market: EU to IndiaAdd to Clippings
C R JAYACHANDRAN/TIMESOFINDIA.COM

[ THURSDAY, DECEMBER 11, 2003 05:21:31 PM ]

Amid opposition to business process outsourcing in Europe and the United States, a senior EU official has urged "Indian talents" to exploit the huge potential offered by the BPO market for IT & allied services in the European countries.

 

Prof Dr Tilag Viegas of the Directorate of the European Commission said that India, under EU's most important programme for research cooperation, was one of the major beneficiaries and the country should " exploit the opportunities posed by EU in the field of biotechnology, bioinformatics, genomics research, nanotechnology as also the huge potential offered by the BPO market for IT & allied services".

 

Recognising the need for a joint effort to tap the potential for substantially enhancing the current low levels of trade and investment, he said India and EU would focus on sectors considered important to potential investors and traders.

 

Speaking at a seminar on ' India-Opportunities Unlimited ' in Brussels last week, Dr Viegas said, "the EU has reserved a 315 million pounds budget for participation of targeted countries and India is one of the major beneficiaries."

 

He also said that India has already signed on to be a stakeholder in the Galileo system to the tune of about $300 million. Galileo, a joint venture between the EU and the European Space Agency, is expected to out-perform the American GPS.

 

The seminar, aimed to generate awareness amongst the European community about the dynamism of the Indian economy and the new investment opportunities was organised by Global Organization of People of Indian Origin (Gopio), Belgium, in association with the Indian embassy.

 

According to Gopio officials the seminar assumed significance as never before had any organisation dedicated to the interest of non-resident Indians and People of Indian Origin living in Belgium organised such an event to promote development and bring investment into India.

 

Welcoming the participants, Gopio Belgium President Sunil Prasad said that India has rapidly moved up into the rank of the front runners of the rapidly growing Asia Pacific Region and has unleashed the latent strength of a complex and rapidly changing nation.

 

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