'E-business worth $ 4 billion in 5 years'

By Our Staff Reporter

BANGALORE, FEB. 21 India has the potential to generate e-business worth $ 4 billion in the next five years, and this may go up by another $ 6 billion.

This fact was stated at a workshop on "Enovation meeting and opportunities for Indian e-commerce companies in Europe", organised by the Export-Import Bank of India (EXIM Bank) here on Wednesday.

Speakers at the workshop said the number of European households that were online was expected to triple in the next few years. Indian e-commerce companies could utilise this fact to their advantage.

A McKinsey-NASSCOM study revealed that India had the potential to generate e-business worth $ 4 billion. Europe, the participants were told, would be a bigger market for e-commerce than the United States.

Mr. Tobby Simon, Director (India Operations), France-India Trade, spoke about the opportunities for Indian IT companies in Europe, while Mr. Pratap Hegde, Managing Director, Infodesk Limited, spoke on "Industry perspectives: Sharing of experiences with European markets."

Mr. S.Prahalathan Iyer, Chief Manager, EXIM Bank, and Mr. J.Samuel Joseph, Chief Manager, Exim Bank, spoke.

An "enovation meeting" has been organised in June 2001 in France by the Lille Metropole Chamber of Commerce and Industry, the European Commission and the French State and Investment Promotion Agency for Northern France. The event is expected to help Indian companies to explore business opportunities.

More than 70 representatives from leading IT companies attended the workshop.

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