Released on: May 2, 2008, 2:45 am

Press Release Author: PRHUB

Industry: Industrial

Press Release Summary: Economic relationship between India-China got a major boost
today at Bangalore with 9 companies / entities from across each side of the border
signing separate MoU's to explore mutual benefits and help each other achieve joint
development. These MoU's were signed at the "Mutual Benefits, Joint Development"
seminar held here under the aegis of Suzhou Municipal People's Government.

Press Release Body: Economic relationship between India-China got a major boost
today at Bangalore with 9 companies / entities from across each side of the border
signing separate MoU's to explore mutual benefits and help each other achieve joint
development. These MoU's were signed at the "Mutual Benefits, Joint Development"
seminar held here under the aegis of Suzhou Municipal People's Government.
Indian entities that signed the MoU included Zaza Technologies, Bangalore Chamber of
Industry and Commerce, Standard Chartered, Capgemini Group, Sunpa Sobha Software,
Patni Computer, Logistic Solutions, Hero Mindmine and Excelerate Technology. The
coming together of Bangalore, the IT Software Outsourcing hub of the world and
Suzhou, the IT hardware manufacture outsourcing hub marks a major milestone in the
annals of Information Technology sector of both the countries.
According to Zhou Weiquiang, vice-mayor, Suzhou Municipal People's Government "China
and India have comprehensively accelerated the pace of cooperation in the services
outsourcing field and the visit of Suzhou delegation and the MoU's signed is the
best proof. In a globalized economy there is indeed competition but more importantly
the partnership forged also highlights the need for cooperation between the two
giants to jointly surge ahead."
Further he said, "The cooperation in the services outsourcing field between China
and India is not only necessary for the software / hardware enterprises from both
the countries to face international competition but also indispensable for the
development of the services outsourcing industry in China and India as well."
Built around the Yangtze River delta, Suzhou has developed into one of the most
important IT hub of China and the planners have consciously developed it as an
"offshore outsourcing" nerve centre. Further, Suzhou Municipal Government has listed
the development of services outsourcing industry as the key point of the city's
national economic development.
The services outsourcing industry of Suzhou (software alone) during 2007, clocked an
output of USD $3.5 billion (including embedded software) of which exports accounted
for USD $1.2 billion (including embedded software). The city so far has attracted
over 400 software enterprises, among which more than 80 are involved in software
outsourcing business. It is estimated that by the end of 2008, Suzhou would witness
completion of construction of over 1 million square-meter services outsourcing
carriers, wherein the Government would invest over USD $140 million.
Further, Suzhou Industrial Park's operating plan and policies are designed to
provide R&D centers, high technology companies and software firms with an
environment that provides the benefits of a planned community with proximity to
greater Shanghai's lively academic and cultural institutions. Last year, Suzhou
Industrial Park was awarded the honor of the first "Model Base of Services
Outsourcing" of China jointly by the Ministry of Commerce, Ministry of Information
Industry and the Ministry of Science and Technology. It is also the only experiment
zone of preferential financial and taxation policies for services outsourcing
enterprises in China.
About Suzhou Municipal People's Government:
With a history of over 2,500 the Suzhou City of China has developed into a hot land
for investment. 122 out of the top Fortune 500 companies have invested in Suzhou.
Now its focus is more on the development of services outsourcing industry. So far
there are over 500 services outsourcing enterprises of various types. The main
categories of services outsourcing includes software development, animation,
third-party logistics, financial accounting, human resources, etc.


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