August 11, 2017

Sweden in line to become magnet for Indian IT services

The Nordic country has begun to significantly focus on digitization after its government introduced a ‘Digital First’ strategy.

Earlier today, a joint report published by the institutions supporting Sweden’s IT infrastructure stated that the country has the potential to emerge as a prime market for the Indian IT services industry. The creation of the report, titled ‘Sweden, a key driver of Nordic ICT growth’, was led by Nasscom, India’s IT industry lobby, in collaboration with the Business Sweden organization and Swedish IT research company Radar Ecosystem.

The report mentions that with strong economic development following the government’s implementation of its ‘Digital First’ scheme last year, Sweden is rapidly adopting new computing delivery models. Nasscom says this trend is in congruence with the nation’s IT industry, where new technologies are reshaping the existing IT market.

In light of these circumstances, the report proclaims India as a potential major source for Sweden’s technological requirements given the cordial relationship shared between the two countries, in addition to India being famed throughout the world for its innovative and booming IT solutions space.

Following the release of the report, the President of Nascom, R. Chandrashekhar, talked up the possibility of both countries working together:

India and Sweden’s IT ecosystem have a mutual affinity for each other. Both the countries at the threshold of digitization, opening multiple opportunities for the countries to collaborate.

Meanwhile, the Business Unit Head for ICT at Business Sweden, Vineet Garg, believes both nations stand to benefit from proposed IT ties:

We have seen a strong growth in interest from Indian IT service companies who want to establish and grow in Sweden to tap the Nordic market. Access to talent, rather than cost, is a key concern for CXOs and Indian players having the relevant competence are well placed to capitalize on this opportunity.

According to Nasscom, Sweden has a current GDP of USD 550 billion and possesses an approximate 40% share of the Nordic region’s IT spend. The country is also home to popular tech companies like Truecaller, Candy Crush, Skype and Spotify.

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