New York: India's leading Information Technology and software companies have showcased their wares, strong points, capability and capacity before investors and venture capitalists at the NASDAQ.

During day-long presentations on April 4 by several companies, captains of IT industry highlighted the advantages India offers for foreign investors and companies – cost effectiveness together with high productivity and quality service by IT professionals.

The "network meet" was organised by India's National Association of Software and Services Companies (NASSCOM) in association with NASDAQ.

Speaking on the occasion, Union Minister for Information Technology Pramod Mahajan highlighted India's ambitious plans for the expansion of the IT sector and said NASDAQ would be an attractive option for the companies to register.

At present, only three Indian companies are listed on NASDAQ but it expects their number to expand substantially over next five to ten years as investors' confidence in the capacity and capability of the Indian companies increase.

Mahajan, who visited the most modern stock exchange in the US, said he expected several Indian companies to register in NASDAQ and New York Stock Exchange.

India is taking strong measures to help the IT sector grow and free the telecommunication sector from all controls, he said adding that the US would continue to be a major market for Indian IT products and was projected to generate about $ 18.3 billion of the total Indian technology exports of $ 50 billion by 2008.

PTI