A new report has stated that the India and China are quickly coming up as new tech powerhouses, and will eventually fuel the growth of Information Technology over the next 10 years.
Forbes magazine said while quoting a recent Global Information Technology Report by the World Economic Forum, that even though in present situation there is a huge gap between these emerging markets and developed nations, it will narrow down in the coming ten years.
138 countries were tracked and ranked by the extensive use of Internet, personal computers, mobile phones as well as IT infrastructure and regulatory environment, India ranked 48th, while China was ahead at 36th.
Amongst other Asian countries, which scored high in the rankings, Singapore excelled at the second place whereas Taiwan, Korea and Hong Kong came at 6th, 10th and 12th place respectively.
After examining the inclination in the initial public offerings, Forbes noted that China had accounted for 22 of the 61 venture-backed companies which went public in the US last year. Moreover, India also got itself listed on the IPO map with the successful NASDAQ listing of MakeMyTrip (an India-based travel firm) on online travel start-up.
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