Smart City Malta has signed a memorandum of understanding with the National Association of Software and Services Companies, hoping to use Malta as a bridge between its members and Malta’s neighbours.
Nasscom is a trade association for Indian IT and business process outsourcing. Association chairman Ramakrishman Chandrasekaran said it was too early to say whether the MoU would translate to jobs and company relocations – but he is clearly optimistic.
“Nasscom is looking to expand to multiple geographies. Malta represents a real opportunity for member companies as there is a shortage of ICT talent in the countries surrounding you, as well as access to the EU,” he said.
Over the years, India has evolved from a country offering back-office services to a high value-added home for some of the top technology firms.
“Most leading technology firms have now established R&D centres in India where they are developing next-generation technologies. There is a whole new breed of young Indian entrepreneurs and Nasscom is workung with the Indian government to create the right ecosystem for them to flourish,” he said.
While in Malta, Mr Chandrasekaran also met Mita and Mcast to better understand the role of various stakeholders.
Malta represents a real opportunity for member companies as there is shortage of ICT talent in the countries surrounding you
“It was good to hear about the focus on ICT education and that the investment is long-term. You have hundreds of graduates every year which could be a great source of talent for global corporations,” he said.
Nasscom was set up in 1988 and has 1,500 members, over 250 of which are outside India. Between them, its members have a global turnover of €87 billion. It has headquarters in Delhi but also has a presence in China, Malaysia, the Philippines, Hungary and Latin America.
Smart City Malta chief executive officer Anthony Tabone said: “We would love to have Nasscom members come here. The companies are huge. Mr Chandrasekaran’s firm employs 180,000 people. Can we attract just one or two companies to set up here with 60 to 100 people? After all, Malta is a good gateway to both North Africa and the EU for Nasscom members,” he mused.
Mr Chandrasekaran was reluctant to predict jobs and investment but said the island clearly had much to offer besides its location. “It is too early to predict any concrete impact but we would certainly like to bring expertise here to groom local talent,” he said.
Nasscom has been working with various governments around the globe to provide access for Indian talent to travel around and help our customers wherevever they are. The European Parliament recently approved a new EU directive on the conditions of entry and residence of third-country nationals.
“This will ensure greater mobility. There is a severe shortage of ICT talent in developed markets and India can definitely fill that gap. A favourable immigration climate will certainly help,” Mr Chandrasekaran said.