Park, who is on a four-day state visit to India, while gracing the India-Korea IT Expo 2014 here, asked the IT-ITeS industry body NASSCOM President R Chandrashekhar about the secret behind the success of India's IT industry.

Chandrashekhar told Park that Indian IT companies try to understand the client's needs and then develop processes, products and services to give them the right solutions.

Park wanted to know if South Korean and Indian IT companies could work jointly to address third markets.

Chandrashekhar said there were a lot of opportunities in this regard, especially in the lower income markets, where the companies can focus on the health and education sectors.

On the future of the Indian IT industry, Chandrashekhar told the President that it is in transformation and working towards providing a holistic service environment to the clients.

On opportunities for Indian IT firms to work with South Korean firms, Chandrashekhar said, "There are already some big Korean companies in India. Some have their R&D centres and other offices here. Our aim is to promote the partnership and scale this."

In South Korea, there are many products that are domain specific and India is now embarking on expanding its IT industry's footprint in other products and services, he added.

"This could build up into a good opportunity for Indian IT firms," he said.

India and South Korea, in a move to strengthen bilateral ties, yesterday decided to intensify cooperation in a range of key sectors including trade, investment and defence.

Nine pacts covering wide-ranging fields including cyber space cooperation was also signed between the two countries.


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