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China, India To Rival Japan In IT: Business Leaders

June 7, 2001

The growth of the IT industry in China and India is "so fast as to fill me with awe," NEC Corp. (6701) President Koji Nishigaki said. "Japan hasn't yet woken up to the seriousness of the situation."

Nishigaki was speaking at a Nikkei Future of Asia conference, an annual forum of Asian political and business leaders. Nishigaki and heads of major Chinese and Indian software developers were panel members discussing how IT industries are changing the Asian business scene.

The Asian IT industry will be able to compete head on with the U.S. and Europe if business and academic sectors work together, the chairman of major Chinese software developer Founder Group said.

Min Wei Fang said the Asian IT industry lags behind the U.S. and Europe. He stressed that technological know-how is vital for the further growth of Asian IT firms.

"An ideal combination of generating, processing, spreading and applying information will be the key to the future prosperity of Asian IT companies," he said.

Narayana Murthy, chairman & CEO of Infosys Technologies Ltd., an Indian software maker, said his country's software exports have contributed greatly to the nation's economic growth by creating 200,000 jobs annually. The IT industry has also helped narrow the gap between the haves and the have-nots by introducing stock option programs and other measures, he added.

Murthy went on to say that problems stemming from poverty in India and China can be resolved by promoting the launch of software and other IT start-ups.

(The Nihon Keizai Shimbun Thursday evening edition)

Titles of speakers, names of companies, etc., were correct as of the time when the forum was held.