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India to learn defence IT from Israel

Mehta is leaving today for Israel to sign a memorandum of understanding with the Israeli counterparts of NASSCOM.

T O D A Y

• Omnicash • Karnataka ISP • Israel's defence tech • VSNL-Singapore deal

Besides defence, the Israeli software industry has done commendable work in science and technology.

''Because of a good rapport with the country's defence forces, the Israeli software industry has done some excellent work in this area'', Mehta said before leaving.

Both Israel and India have established themselves as world players in the field of information technology. While Israel has made its mark in software products, Indian companies have excelled themselves in services.

''Eighty-one Israeli companies were listed on NASDAQ in the last few years,'' Mehta pointed out. India has only one NASDAQ listing in its kitty: Infosys Technologies.

Several Indian companies are now realising the need to fall in line with the GAAP method of bookkeeping because a listing in the US markets is impossible without following GAAP norms.

Israeli companies would also be interested to learn a few lessons from the Indian firms in the services sector.

A bulk of Indian software exports come from services. ''Services are important to us because they provide employment,'' Mehta said.

UNI

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