EU to tap IT firms
Bangalore, 25 March, 2004
Times of India

,With US trying to place more hurdles on the outsourcing front, it is time for the European Union (EU) to move in. The European Multimedia Forum (EMF), a leading European trade association is planning to set up its second 'accelerator hub' in India, the first being in the US.

Basically the EMF is a net work of 15 different European associations (one from each country) and it is looking at partnering with Indian IT companies in areas of digital content and services.

According to a research survey, the EU digital applications market is estimated at $6 billion within the next two years.

Philippe Wacker, secretary general, European Multimedia Forum, who is spearheading this effort said partnering with Indian companies will also enable more work to come here especially in the face of fierce competition from Russia, Poland and Czech Republic.

When queried whether the anti-outsourcing wave was also dominant there, he said, "there are rumblings in certain sections but I think it is very simplistic and straight-forward stupid to think that jobs are going to India, We are looking at creating a win win situation so that both the countries benefit."

Interestingly, the association has also tied up with NEC, Panasonic and Nokia who are on the look - out for innovative companies and technologies for acquisitions. " Since we are dealing with a number of smaller companies in different regions, we have set up a 'virtual showcase' where the best innovative companies are featured. This enables us to scout for cutting edge technology could be integrated with the larger companies or could be acquired by them." Margaretha Mazura, deputy secretary general pointed out.

According to him, smaller EU firms are still not used to the concept of outsourcing or partnering and not sure how to go about it. "Our role is basically to facilitate this between EU and the Indian firms," he noted.