IBS Softwares Expansion in Kochi Reflects Keralas IT Industry Growth

Kochi, February 4: Kerala Chief Minister Pinarayi Vijayan highlighted the state's industry-friendly environment as he inaugurated the second fully-owned campus of IBS Software, a leading air cargo digital technology company, at Infopark in Kochi. The company's growth as a global SaaS solutions provider exemplifies Kerala's conducive climate for business.

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Sustained Growth in Information Technology

Vijayan emphasized the sustained growth of world-class companies in Kerala, particularly in the Information Technology sector. The state's software exports reached an impressive Rs 19,006 crore during 2022-23, reflecting the industry's remarkable expansion. This growth challenges the perception of Kerala being hostile to industrial development.

Ambitious Goals for IT Sector

Encouraged by this growth, the state government is now aiming to achieve a 10 percent contribution to the country's IT exports and generate 500,000 new jobs in the sector. Vijayan highlighted the significant progress made in IT parks, with 509 companies setting up operations in the three leading parks since 2016, providing employment to over 63,000 IT professionals. Additionally, the number of startups in the state has grown exponentially, from 300 to 5,000 in the past eight years.

IBS Software: A Global Leader in Air Cargo Technology

The Chief Minister also acknowledged the role of IBS Software Founder and Executive Chairman V K Mathews as an effective brand ambassador for Kerala's corporate-friendly environment. Addressing the gathering, Mathews highlighted the company's significant position in the air-cargo sector, handling half of the world's software business. He emphasized the rapidly changing nature of the industry, with software evolving from coding to prompting using generative AI, and underscored the immense potential of the digital economy in the future.

Expansion Driven by Post-Pandemic Growth

IBS Software has been operating from Infopark since 2005 and already has a fully-owned campus in Technopark, Thiruvananthapuram. The company's new 14-storeyed campus, spread over 4.20 acres of land, can accommodate over 3,000 professionals in 3.2 lakh sq ft of office space in its first phase. This expansion was necessitated by the massive post-pandemic growth in the company's business, driven by accelerated technology adoption in the travel industry.

Conclusion

The inauguration of IBS Software's second campus in Kochi underscores Kerala's commitment to fostering a conducive environment for industry growth. The state's sustained growth in Information Technology, exemplified by IBS Software's success, challenges the perception of Kerala being hostile to industrial development. With ambitious goals for the IT sector and a focus on creating jobs and boosting exports, Kerala is poised to play an increasingly significant role in India's digital economy.