New Alliance Helps Indian Cos Tap Foreign Markets
Atlantic Crossing, India, and Icon International, UK recently announced their strategic alliance, with the object being to help Indian startups grow. Speaking exclusively to CXOtoday, Ritika Hiranandani, director, Atlantic Crossing and Alan Bistrow, founder and CEO, Icon International discussed their plans for the Indian market place.
Examining the Indian scenario, Bistrow said, "The Indian market place is growing considerably. Earlier, India was considered as a cheap offshoring site, however, now we are looking at upcoming software companies. The venture capitalist market in general is moving to look at India. One of the major venture capitalists around right now, 3i, is also looking at a lot of companies in India."
Elaborating further on this, Ritika Hiranandani, CEO, Atlantic Crossing said, "We are definitely moving up in the value chain. We have a lot of companies that are getting into the foreign market, and we are targeting these companies. The trend in India is shifting from cheap labor to indigenous Intellectual Property (IP)." "Foreign corporations are looking at saving costs. They are looking for a lot of cheap talent, which is available widespread in India. The country’s vast talent pool is the main reason that foreign companies are as attracted to India as fireflies to lights," said Bistrow.
According to Bistrow and Hiranandani, India is currently witnessing the BPO and call center wave; the future though is in developing IP and innovative technologies, software that can improve the overall efficiency.
The BPO business has sparked a chain reaction of sorts, which will lead to improved IP development and innovation. With regards to upcoming markets and technologies, Bistrow feels that the mobile wireless space is definitely worth watching.
"This alliance makes sense for us because we have similar interests. We are interested in picking up companies that we feel are fast growth technology companies, and have a good scope in the future," said Bistrow.
Atlantic Crossing recently launched a program, Assist India, which will assist Indian companies not just to enter the foreign markets, but will also help in tapping new businesses, through tie-ups, buyouts or acquisitions. The company recently helped companies like Ajax, a knowledge management solutions firm, Regency, etc., to gain a foothold in the market.
Icon International is a specialized finance company engaged in corporate barter, while Atlantic Crossing helps technology companies increase their sales in the global market space.
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