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August 19, 1999
Indian IT team plans to visit BrazilA high-power business delegation from India will visit Latin American countries next month to help improve trade in information technology.
''This is for the first time that such a delegation is visiting South America,'' said R H Naqui, executive director of the Electronics and Computer Software Export Promotion Council, which is sponsoring the tour.
The trip is a sequel to a recent visit of a 12-member Indian Information Technology Exporters' delegation organised by the ESC of the commerce ministry.
It coincided with the Fenasoft Show, Brazil's largest information technology event, held in Sao Paulo last month.
''Brazil has emerged as the largest market, accounting for 40 per cent share of the Latin American region while the compound annual growth of the IT sector since 1992 is the highest at 28 per cent,'' he said.
The total information technology market in Brazil is estimated at $24.6 billion with software sales at $3.1 billion last year, projecting a growth rate of 13 per cent besides providing a large potential for e-commerce.
''With Brazil providing a gateway to a large market of 200 million consumers with an average per capita income of $5,000, India's chances of expanding the IT market in Latin America is quite encouraging,'' he said.
Earlier, the exploratory visit had resulted in identifying software export development opportunities in the market including in education, banking, health systems, industrial automation, graphics, computer aided design and computer aided manufacturing.
India's software and related services exports to Brazil during 1998-99 was about $2.5 million, representing less than a single-digit share of the country's total software exports globally.
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