Growth of IBS Software is proof to Kerala’s Economic potential: CM
Kochi / February 4, 2024
Kochi, Feb 4: The rapid expansion of IBS Software as a global SaaS solutions provider exemplifies Kerala’s industry-friendly climate, Kerala Chief Minister Shri Pinarayi Vijayan said here today.
Inaugurating a second fully-owned campus of IBS Software at Infopark in the city, he said: “It demonstrates the growth of world-class companies in our state which is often accused of being hostile to industrial development. He added that IBS Software Founder & Executive Chairman Shri V.K. Mathews is effectively the brand ambassador for the state’s corporate-friendliness.
Kerala is witnessing a sustained growth in Information Technology as reflected in the state’s rising software exports which totaled Rs 19,006 crore during 2022-23, Shri Vijayan added. Encouraged by this, the state is now working towards ensuring ten per cent contribution to the country’s IT exports and the sector generating 500,000 new jobs. Further, once the Technology Innovation Zone goes full-operational, the facility at suburban Kalamassery will be Asia’s biggest. He added that the coming up of K-Space in the aerospace sector will help realize the dream of a Centre of Excellence in Thiruvananthapuram.
The IBS facility at Infopark is part of the company’s efforts for a range of cutting-edge digital solutions to meet a post-pandemic growth in global business in aviation, hospitality and cruise sectors.
Kerala’s IT parks have all basic infrastructural and allied facilities, smart business centres, land and buildings that can woo national and global companies. Overall, the state’s IT parks provide space of two crore square feet. The three leading parks in Kerala have housed 509 companies from 2016, providing employment to 63,000 IT professionals.
The number of startups has risen to 5,000 from 300 in the past eight years, earning Kerala the Best Performer honour at the national ratings of the Union Commerce Ministry in the startup sector. The state also topped the Affordable Talent ratings at the Asia level, the Chief Minister recalled.
The upcoming Technocity in the state capital will have comprehensive facilities for offices, housing, shopping, health and education. As many as 20 small-scale 5-G IT-parks will come up on both sides of the national highway along the Kannur-Thiruvananthapuram stretch. “We have given the permission for IT space measuring 5,000 sq ft to 50,000 sq ft. We, in association with private entrepreneurs, will share Kerala’s infrastructural wealth, manpower resources and investment prospects with the world,” he added.
IBS Software’s Shri Mathews, while welcoming the gathering, said the company handles half the world’s software business in the air-cargo sector. “The nature of the sector is fast changing. The software is changing from coding to prompting using generative AI,” he revealed, calling upon IT employees to develop this faculty.
Highlighting the growth of digital economy in the future, he said half of India’s economy will be digital by 2047. “Our IT sector should brace up to make good use of this trend,” he added.
Infosys Co-founder Shri S D Shibulal, who is also Chairman of High Power IT Committee in Kerala, said IBS and Shri Mathews played a critical role in bringing the state on to the global map of IT products. Today it has emerged as the leading software company in the aviation sector,” he noted. “Kerala has been making a silent revolution in IT. The state now has all the top companies in the sector.”
IBS Software Independent Director Shri Armin Meier, CIAL Managing Director Shri S Suhas, Blackstone Senior MD Shri Ganesh Mani, and IBS’ Senior Vice President (Global Human Resources) Shri Jayan P spoke on the occasion.
IBS Software has been operating from Infopark since 2005. The company’s first fully owned campus is located in Technopark, Thiruvananthapuram.
The company’s new 14-storeyed campus, spread over 4.20 acres of land, can, in its first phase, accommodate over 3,000 professionals in 3.2 lakh sq ft of office space. The full-fledged additional work space was necessitated by the post-pandemic massive growth in the company’s business, caused by accelerated technology adoption by the travel industry.
