Alfred Berkeley, Vice Chairman, Nasdaq commented, "We have strong ties with NASSCOM, an organization which has strongly supported our initiatives in India for assisting companies to raise capital in the US. India is a new global hub for technology dedicated to capital formation and we are delighted to welcome the NASSCOM delegation."
The NASSCOM delegation will visit Nasdaq's MarketSite in Times Square, where presentations from many of the companies will be videoed throughout the day for webcasting on www.nasdaq.com. Presentations can be viewed on www.nasdaq.com over the next thirty days. The delegation will also attend the market close ceremony and meet the press at a roundtable hosted by Mr. Berkeley. Additionally, Nasdaq will host a cocktail reception in honor of H. E. Pramod Mahajan, Minister of Information Technology, Communication and Parliamentary Affairs, Government of India and NASSCOM.
Kiran Karnik, President, NASSCOM, added, "As part of our ongoing program to help build the Indian IT brand overseas, NASSCOM is organizing a series of international events. With Nasdaq's reputation as the home for innovative companies that are leaders in their industries, we are especially proud to be working with Nasdaq to increase awareness of the member companies in our organization."
In the last five years, 1995-2000, the Indian IT Industry has recorded Compounded Annual Growth Rate of more than 42.4 percent, which is almost double the growth rate of IT industries in many of the developed countries. In 1999-2000, the Indian IT industry was estimated to have earned revenues of US$8.67 billion - a growth of almost 50 percent as compared to US$6.05 billion in 1998-99. More than 185 of the FORTUNE 500 companies outsourced their software requirements to Indian software houses.
About Nasdaq
Nasdaq is the world's largest stock market. With more than 4,000 companies, Nasdaq lists more companies and trades more shares per day than any other U.S. market. Over the past five years, Nasdaq has outpaced all other U.S. markets in listing IPOs. It is also home to category defining companies that are leaders across all areas of business including technology, retail, communications, transportation, media and healthcare industries. With operations on three continents, Nasdaq is a key driver of global capital formation. For more information about Nasdaq, visit the Nasdaq Web site at www.nasdaq.com or the Nasdaq NewsroomSM at www.nasdaqnews.com.
About National Association of Software and Services Companies
(NASSCOM) NASSCOM (National Association of Software and Service Companies) is the apex body and umbrella organisation for IT Software and Services industry in India. The member companies of NASSCOMare in the business of Software, IT Services, Internet, E-commerce and IT Enabled Services. NASSCOMs primary objective is to act as a catalyst for the growth of the software, IT services and e-commerce industry in India. NASSCOM was specifically set up to facilitate business and trade in software and services and to encourage advancement of research in software technology. It is strictly a not-for-profit organization.
