Financial Daily from THE HINDU group of publications
Friday, Aug 23, 2002
Financial Daily from THE HINDU group of publications Friday, Aug 23, 2002 |
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Info-Tech
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Outlook `Bavaria a good hunting ground for IT cos' Our Bureau
BANGALORE, Aug. 22 IF it's Europe, think Germany and Bavaria, says the location marketing agency, GotoBavaria. Germany, with its e-governance plans costing over euro 4 billion, will be a good hunting ground for Indian IT companies who are spreading their wings, according to Mr Peter Friess, CEO of the Bavarian investment promotion agency. The State of Bavaria alone has an e-governance programme worth euro 1.7 billion for the next three years, with a public sector investment plan alone for euro 69 million till 2004. The federal government in Berlin also has a similar programme about thrice that size. Compared to the current European favourite, the UK, it has the advantage of the common euro and the common Shengen visa facility. With Europe looking eastwards, Germany and its tech hub, Bavaria, would be the best gateway for European markets for Indian companies in the long run, he told a news conference here. Software exports to Europe are also growing and there is an European software export market worth $400 billion to tap in the next years, according to Mr Tony O'Sullivan of Aid Network, Munich. The capital, Munich, is also home to nearly 50 of 73 Bavarain venture capitals, which together have a fund of $20 billion. Seven IT clusters are located in Bavaria. Most of the 2200 Indians in that country are also based there. Meanwhile, eight Indian companies, six from Bangalore, recently opened their presence in Munich, among them NIIT, Syntel, Sphatika, Phoenix and Intertek. GotoBavaria expects more to join them. It is talking to at least eight others, according to Mr Peter Englert, Head of the agency's International Operations. The location marketing agency is holding a three-day workshop here till August 22 for some 70 IT companies with the aim of luring them to Bavaria. Its Bangalore office, which opened operations over a year ago is the only one after its four-year-old US counterpart. According to its Executive Director (India), Mr John Kottayil, East Asia, especially China and Japan, would be the next focus, though it is still early to open offices there.
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