Asian economy to overtake Europe by 2025: Mittal
Bangalore | Tuesday, Oct 27 2009 IST
 

Asian economy would overtake Europe by 2025, NASSCOM President Som Mittal said today.

Speaking on the occasion of a two-day NASSCOM Product Conclave and Expo 2009 here, Mr Mittal said, the economy of the Asian countries, including Japan, would cross that of Europe by 2025.

"Today IT spends in small and medium businesses more than that of fortune 500 companies," he added.

The NASSCOM Chief said there would be no further talks on labour arbitrage and objections to outsourcing works to countries like India was over. "Larger growth would come from unchartered areas. It can be geographies, verticals such as SMB and healthcare,'' he added.

Mr Mittal said there is ample scope for innovations and unless we emerge with new products, survival in the market would be difficult.

Climate Change and Health care offers new avenues for entrepreneurs, he added.

He said the entry of Multinationals in India would help in building infrastructure.

Mr Mittal said the time is not far for small, medium and product distributors to introduce a new economic system.

Garage Technology Ventures Managing Director Guy Kawasaki said, there is no good or bad time for an entrepreneur before investment.

''If one waits for global recession to end, he will be the great loser. This is the right time to invest and come out with new products,'' Mr Kawasaki added.

As many as 1000 delegates from 650 companies were participating in the Conclave.

-- (UNI) -- 27MC4.xml

 

Viewer's Comment Comments Not Available

More Stories

Phone hacking scandal bill touches $200m for Murdoch\'s News Corp 

Dannii Minogue freaked out by her Madame Tussauds\' wax doll 

E-mails bares US nuke regulatory body\'s chaos on Fukushima crisis 

Class 9 student stabs teacher to death in Chennai 

Moldovan dancer says prove if \'lingerie found in Costa Concordia captain\'s room had her DNA\' 

Bubble-propelled microrockets \'may work in stomach acid\' 

Prince Harry qualifies as Apache helicopter pilot after finishing top in class 

Bernard Tomic\'s girl unhappy with sexually attractive pics in magazine 

Printer Friendly Version