The way of functioning of businesses has changed today as the Indian economy is writing a new growth story. Mr. Kumar says that it is important that SMEs understand the growth prospects and start adopting IT solutions. Mr. Kumar while attending a seminar titled ‘Information, Communication & Technology for Enhancing Competitiveness of Indian SMEs’ spoke about SMEs and IT solutions.

In the seminar, Mr. Kumar disclosed that the Government is going to make available high quality broadband access through ‘National Optical Fibre’ network in village Panchayats by the year 2014. Semiconductor wafer fabrication is easy to carry with no transportation charges. The project is under process and is going to be very beneficial for all.

For the sake of skill development in IT sector, the Government is going to train 10 million people in the country in coming days as part of ‘National Skill Development Programme’.

TCS is now entering a market that is crowded but expects substantial business transactions in terms of technology. The offering serves 130 clients though it is still in pilot phase. TCS chief executive N Chandrasekaran wants to ramp up the customer base to 1000 in a year’s time.

In next five years, TCS expects to reach a billion dollar in revenues. Individual hardware and software components will combine to form the new cloud offering. This will address specific SMB requirements as they can pay for services on a monthly basis similar to utility service like cooking gas and electricity.

The service offering of TCS promises to free SMBs from the burden of maintaining an in-house IT infrastructure that remains at risk of becoming obsolete. SMBs represent a good market for cloud-based services and this has been validated by analysts. More effort may be required by service providers in India especially when it comes to awareness and client education.

With this move TCS will take accountability for

1. Hardware, network, software & services
2. Its demand of cloud computing shall be on a rise
3. It will be made operational and expenditure based.
4. TCS will incorporate business process knowledge.
5. It will embed compliance processes.

A tie up of Tata Communications with Google has been announced in order to allow similar cloud services priced in a “pay-as-you-go” model.

Already there are 1,500 Indian companies operating in Hong Kong and the number is expected to go higher. It is found that Hong Kong provides a very conducive environment for Indian economy to expand and grow.

Simon Galpin, director-general, InvestHK, says, “We are very optimistic about the future of investment and business relationship between India and Hong Kong. Presently there are leading Indian banks, airlines and other enterprises which have offices there.”

Both the countries share similarities in English language and company law. The mode of taxation is also simple in the city of Hong Kong. It has remained Hong Kong’s long-term strategy to search for new investment inflow destinations. The city is already the largest receiver of Foreign Direct Investments (FDI).

SMEs are also eyeing Hong Kong as a base to tap the Chinese market. Galpin said, “We are one of the world’s major services, command and control and logistics providers. We are looking for Indian information technology firms, including IT-enabled services providers, to come to Hong Kong.” The investment agency provides infrastructural support for setting up distribution base in the Chinese market.

Bank of India, Jet Airways, ICICI Bank, UCO Bank, are among 1,500 Indian companies that have started operations in Hong Kong.

The ambassador also mentioned trade possibilities in other sectors such as pharmaceuticals and agriculture items including rice, coffee and meat. Considerable trading is already happening between the two countries, with export-import activity generating more than $60 million. Ninety percent of Tajikistan’s imports come from India.

Companies like MMTC and the State Trading Corporation of India are exploring more joint ventures and trading possibilities.