Mr. Noel Treacy T.D., Minister for Science, Technology and Commerce today (Tuesday 12th September 2000) launched a new guide - "Business Opportunities in India – A Guide for Irish Software and IT companies". The guide outlines the opportunities available for Irish companies who are targeting the Indian marketplace. It offers practical advice in relation to establishing subsidiaries in India, selling products, outsourcing software services and recruiting Indian IT professionals into Ireland.

Launching the Guide at a Seminar jointly hosted by Enterprise Ireland and the Irish Software Association, Minister Treacy highlighted the importance of Irish companies establishing a coherent corporate strategy to include India. "India is a land of opportunity for Irish software and IT companies. Significant potential exists for increasing trade between Ireland and India particularly through software, information technology and e-Business partnerships. India is not only a major market in itself for Irish business but it is also seen by Irish companies as offering an excellent opportunity for developing business, products and markets internationally", he said. He urged companies to investigate all possibilities of developing mutually beneficial partnerships between Indian and Irish companies in the software sector.

The study being launched at this seminar was commissioned by Enterprise Ireland and three expert Indian consultants from Bangalore who will present the findings. This seminar is one of many similar familiarisation and business development events that will take place as a result of both Irish and Indian companies recognising a common spirit of innovation and enterprise that translates into shared opportunity.

According to Jennifer Condon, Software Director at Enterprise Ireland, "there is a growing awareness on both sides of the benefits of bringing about contact, particularly in the IT and computer software sectors. Many Irish companies are taking a greater interest in India and Indian companies are also looking towards Ireland. Both countries have ambitious and exciting plans for the future development of our software industries", she said.

Commenting on the report Billy Huggard (Chairman, Irish Software Association) said, "India could provide a safety valve for the Irish Software industry which is currently experiencing a skills shortage in certain disciplines. Many of our members are looking to recruit in India as well as outsourcing there."

However, he warned that Ireland has to compete with the United States and other countries for this talent and that Irish take home pay and stock option taxation needed to match those of its international competition. He pointed out that Singapore had recently launched a major recruitment campaign in India to attract IT professionals.

Enterprise Ireland is aware that India is fast becoming a competitor and is undertaking a series of practical measures in co-operation with the Irish Software Association and the Irish Embassy in New Delhi to make companies aware of the issues and guide them in their plans on India.