Nasscom, DIFC sign MoU to foster cross-border technology partnerships

Indian tech industry body Nasscom on Thursday signed a Memorandum of Understanding (MoU) with Dubai International Financial Centre (DIFC) to enable its member companies to engage with the West Asian city’s fintech and innovation ecosystem and forge partnerships in the sector.

 

As part of the MoU, the industry bodies will exchange sectoral insights and development strategies with each other.

 

Nasscom member companies will gain direct access to DIFC’s artificial intelligence (AI), fintech, and innovation ecosystem, expanding the global scope for collaboration and partnerships.

 

As part of engagement activities, the MoU outlines plans for events such as webinars, roundtables, roadshows, and workshops between the Indian tech ecosystem and DIFC.

 

“Through this collaboration, Nasscom member companies gain access to Dubai’s dynamic fintech ecosystem, opening up opportunities to engage with innovative organisations and network with industry leaders at the forefront of cutting-edge advancements,” said Rajesh Nambiar, President, Nasscom.

 

Nasscom is a representative tech body with a community of over 3,000 companies cumulatively valued at over $250 billion. The DIFC is a financial hub for West Asia, Africa, and South Asia (MEASA), which comprises 77 countries. It has 6,150 active registered companies.

 

“We aim to attract and engage Indian technology companies in our AI, fintech, and innovation community, fostering groundbreaking advancements that benefit the wider financial services industry,” said Arif Amiri, Chief Executive Officer (CEO), DIFC Authority.

 

Meanwhile, India has approximately 10,244 fintech entities, the third largest in the world, according to data from the Ministry of Finance.