IBS Software’s Rapid Expansion Exemplifies Kerala’s Industry-Friendly Climate

IBS Software’s Rapid Expansion

The rapid expansion of IBS Software, a global SaaS solutions provider in the air cargo digital technology industry, is a testament to Kerala’s industry-friendly climate, according to Kerala Chief Minister Pinarayi Vijayan. During the inauguration of IBS Software’s second fully-owned campus at Infopark in the city, Vijayan highlighted the sustained growth of world-class companies in Kerala.

Vijayan emphasized that Kerala is witnessing continuous growth in the information technology sector, as evidenced by the state’s rising software exports, which reached Rs 19,006 crore during 2022–23. He stated that this growth showcases the development of world-class companies in the state, countering the perception that Kerala is hostile to industrial development.

Encouraged by this progress, Vijayan announced that the state is now focused on achieving a 10 percent contribution to the country’s IT exports and generating 500,000 new jobs in the sector. He also highlighted the success of the three leading IT parks in Kerala, which have accommodated 509 companies since 2016 and currently employ 63,000 IT professionals. Additionally, Vijayan mentioned the significant increase in the number of startups in the state, rising from 300 to 5,000 over the past eight years.

The expansion of IBS Software serves as a prime example of Kerala’s commitment to fostering a favorable environment for businesses to thrive. As a global SaaS solutions provider in the air cargo digital technology industry, IBS Software has experienced remarkable growth and success. The company’s decision to establish a second fully-owned campus at Infopark further solidifies its position as a key player in the industry.

Kerala’s industry-friendly climate has played a crucial role in attracting and nurturing companies like IBS Software. The state government’s proactive approach in creating a conducive business environment, coupled with its focus on developing the information technology sector, has been instrumental in fostering the growth of world-class companies.

Kerala has grown to be a well-liked location for IT companies due to the growth of startups and rising software exports. The state has positioned itself as a desirable option for companies wishing to expand in India thanks to its dedication to innovation, highly skilled workforce, and strong infrastructure.

Mathews addressed the assembly and stated that the company manages half of the global software market for air cargo. “The industry is rapidly evolving in nature.” He noted that “the software is changing from coding to prompting using generative AI,” underscoring the future expansion of the digital economy. Since 2005, Infopark has served as the home base for IBS Software. The first fully owned campus of the company is situated in Thiruvananthapuram’s Technopark.Over 3,000 professionals can be housed in 3.2 lakh square feet of office space in the company’s new 14-story campus, which is spread across 4.20 acres of land, when it opens in phase 1.

The expansion of IBS Software not only brings economic benefits to Kerala but also contributes to the overall growth of the IT industry in India. The company’s success serves as an inspiration for other businesses, showcasing the potential and opportunities available in the state.

As Kerala continues to prioritize the development of the information technology sector, it is poised to achieve its goal of contributing significantly to the country’s IT exports and generating a substantial number of new jobs. The state’s commitment to nurturing a business-friendly environment and supporting the growth of companies like IBS Software will undoubtedly contribute to the realization of these objectives.

In conclusion, the rapid expansion of IBS Software as a global SaaS solutions provider in the air cargo digital technology industry exemplifies Kerala’s industry-friendly climate. The state’s sustained growth in information technology, rising software exports, and increasing number of startups showcase its commitment to fostering the growth of world-class companies. With its proactive approach and focus on innovation, Kerala is set to become a prominent player in the IT industry, attracting more businesses and generating employment opportunities.

1 thought on “IBS Software’s Rapid Expansion Exemplifies Kerala’s Industry-Friendly Climate”

Leave a Comment

Discover more from 4newser

Subscribe now to keep reading and get access to the full archive.

Continue reading