Indian IT Market

[Anchor Lead]

India is at the center of world-leading IT firms and software development institutions. Another wave of Korean firms is also rushing to enter the Indian IT market, which has a large pool of competitive IT talents.

[Pkg]

The IT city Bengaluru is called the Silicon Valley of India. R&D centers for world-leading IT firms like Microsoft and IBM and global pharmaceutical companies are clustered in the city. The concentration of multinational firms can be attributed to affordable labor costs and talented IT researchers. The Samsung Research Institutes located here employ about 4,000 researchers, most of whom are graduates of the prestigious Indian Institute of Technology.

[Soundbite] Dipesh Shah(Managing Dir., Samsung R&D Institute in India)

Having noticed the excellence of India's IT manpower, LG electronics had already established a technology lab there 20 years ago.

[Soundbite] Yeo In-kwan(Dir., LG Soft India) : "I think mathematics-based thinking is ingrained in Indian people since childhood. The people here memorize multiplication tables up to 19."

Some 40 Korean research institutions and corporations are currently operating in Bengaluru, India. More and more Korean businesses are projected to enter the Indian market, as securing a pool of IT experts has become vital in their competition with multinational companies.