India is set to make its largest-ever presence at GITEX Global 2024, one of the world’s most prestigious technology events, scheduled to be held at the Dubai World Trade Centre from 14th to 18th October 2024. With over 400 Indian companies participating across twelve pavilions, India is showcasing its innovative prowess in cutting-edge technologies like Artificial Intelligence (AI), Cybersecurity, Mobility, Sustainable Technology, Fintech, and more…. said Veer Sagar, Chairman, Electronics and Computer Software Export Promotion Council (ESC).
The largest ever participation underscores India’s growing dominance in the global technology ecosystem and highlights its commitment to fostering international collaborations, added Mr Sagar.
Mr. Kamal Vachani, Regional Director of ESC-Dubai, highlighted India’s remarkable ascent in the global technology arena, stating, “Under the visionary leadership of Prime Minister Narendra Modi, India has truly become a ‘Digital Beacon’. The country’s journey from the vibrant streets of Bengaluru to the bustling corridors of Hyderabad has solidified its position as a global technology powerhouse.”
One of the key drivers behind this growth is the substantial increase in IT spending. According to a recent study, India’s IT spending is projected to reach $124.6 billion in 2024, representing a 10.7% year-on-year growth. This surge reflects the country’s relentless focus on innovation, particularly in areas like artificial intelligence (AI), cloud computing, and operational excellence. As Indian organizations continue to invest in these cutting-edge technologies, the nation is well on its way to transforming key sectors and industries, added Mr Vachani.
India’s role as a global leader is further underscored by its Global Capability Centers (GCCs). With 1,700 GCCs operating within the country, India generates $64.6 billion in export revenue and provides employment to 1.9 million professionals. These centres act as critical hubs of technological development and innovation for multinational corporations. The 40% increase in revenue from the previous fiscal year highlights India’s increasing importance in shaping the global tech landscape and its ability to support and drive the next wave of digital transformation.
India and the UAE have been trading partners for several decades, but the real transformation occurred post-1990s. From a modest US$180 million per year in the 1970s, our bilateral trade has surged to an impressive US$84.84 billion in FY 2023. The UAE now stands as India’s third-largest trading partner, following only the USA and China. This remarkable growth reflects the shared Page 2 | 2 commitment to collaboration, innovation, and mutual prosperity, said Mr Sandeep Narula, Chairman (Global Outreach), ESC
The UAE is India’s second-largest export destination for multiple products. Notably, the UAE has become a significant market for India’s electronics exports, further strengthening our economic bonds. The UAE is also a substantial investor in India, with cumulative foreign direct investment (FDI) inflows reaching US$16.67 billion from April 2000 to September 2023. These investments span diverse sectors, including technology, infrastructure, and energy. The UAE’s confidence in India’s growth story underscores the immense potential for collaboration and co-development, added Mr Narula.
Mr. Gurmeet Singh, Executive Director of ESC, emphasized the organization’s pivotal role in driving India’s electronics, IT, and IT services sector to new heights: “ESC India: Bridging Horizons.” As the premier organization dedicated to promoting India’s electronics and IT trade globally, ESC India stands at the forefront of innovation and collaboration. This year, at GITEX 2024, we are not just participating—we are making history.
Looking Ahead: INDIASOFT & INDIA ELECTRONICS EXPO 2025
But our journey doesn’t end at GITEX. As the premier organization representing over 2,500 Indian technology companies, we invite you to an even grander gathering— the 25th Silver Jubilee edition of INDIASOFT and 10th INDIA ELECTRONICS EXPO. These twin events, scheduled for March 19-21, 2025, in New Delhi, will showcase the very best of India’s technological breakthroughs and electronics hardware manufactured products, added Mr Sandeep Narula, Chairman (Global Outreach), ESC.
Join us to connect with industry titans, investors, and thought leaders. The corridors of New Delhi will be buzzing with possibilities as we celebrate limitless opportunities in technology — a convergence of minds, markets, and milestones.
