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Nasscom handholds SMEs enter US market; partners with trade body to offer regulatory, legal support

FE Online

IT-BPM industry’s trade association Nasscom is helping its small medium enterprises (SME) members looking to launch in the US, establish and cater to that market through its first edition of an SME programme that offers SMEs a gateway to the US market., Nasscom said in a statement. The programme, launched earlier this week, helps promote mutually-beneficial trade, investment and technological exchange opportunities between India and the US that remains the single largest export market for India’s IT industry, according to Nasscom.

The programme focuses on helping Nasscom’s SME members with access to mature markets in the US, including New Jersey, North Carolina, Ohio, Michigan and Texas and meeting top government officials including Governors of New Jersey, North Carolina and Ohio along with companies across industries, economic development departments apart from law firms and consulting firms.

Nasscom’s support comes in the form of “ensuring hand-holding and providing low cost shared services landing options in various target states,” said Shivendra Singh, Vice President and Head of Global Trade Development, Nasscom. The association also entered into an MoU with Automation Alley -- a not-for-profit trade body based in Michigan that includes a low-cost shared services model of soft landing, regulatory and legal support and supporting such SMEs to engage with the local business ecosystem in the said states.

Nasscom had also launched a programme in June this year for its SME members to have similar benefits and support for entering the UK market --  the second-largest export market for the Indian IT sector. The support included incubation, engagement with companies from various sectors such as BFSI, retail, health, telco; helping through compliance and regulatory requirements etc.

India’s IT and ITeS exports to the US was 57 per cent ($63.51 billion) of the country’s total exports in 2016-17 -- $111 billion, PTI reported last year citing estimates from Electronics and Computer Software Export Promotion Council. Following the US, IT and ITeS exports to the UK stood at 18 per cent ($20 billion).