Kerala Propels Technological Growth with New IBS Software Campus Opening
In a perfect illustration of Kerala’s commitment to technology and development, the state’s Chief Minister, Pinarayi Vijayan, ceremonially unveiled the second fully-operational campus of IBS Software in Kochi’s Infopark. The event not only emphasized the state’s supportive stance towards industry development but also shed light on its rapidly expanding IT sector.
IBS Software: An Emblem of Industrial Development in Kerala
The growth and success of IBS Software, a global powerhouse in providing SaaS solutions for the air cargo industry, reflect the healthy industrial climate in Kerala. The software giant’s expansion signifies the potential for prosperity and the sustainable progress of leading global companies within the state. Highlighting this, CM Vijayan reported that the state’s software exports reached an impressive Rs 19,006 crore in 2022-23, which is a testament to Kerala’s unwavering commitment to IT industry growth.
Kerala’s Progression in IT: Rising Employment and Startups
Demonstrating the state’s achievements in IT, Vijayan noted the creation of 63,000 IT jobs by 509 companies across three main IT parks since 2016. The Chief Minister also highlighted the significant expansion of the startup scene in Kerala that has grown from just 300 to a staggering 5,000 in eight years. These facts underline the state’s strategic emphasis on cultivating the IT industry, aiming for a 10 percent contribution to the nationwide IT exports and generating half a million new jobs in the sector.
IBS Software and Adapting to the Digital Era
The latest expansion of IBS Software features a state-of-the-art 14-storey campus that can house over 3,000 professionals, a testament to the company’s rapid growth during the pandemic and the surge in the travel industry’s tech usage. V K Mathews, the Founder & Executive Chairman of IBS Software, highlighted by Vijayan as the symbol of Kerala’s corporative friendliness, revealed that the company is responsible for almost half the world’s air cargo software business. He also underscored the shift in the industry towards generative AI, indicating the future direction of the sector.
In Summary
The success narrative of IBS Software paired with the exponential growth of Kerala’s IT industry exemplifies the state’s industry-friendly policies and commitment towards developing technology-based companies. The robust growth in software exports, job creation in IT, and the dramatic rise in startups all affirm the conducive climate for industrial development in Kerala. As the state continues to cultivate this atmosphere, it is paving the way for lasting growth in the IT sector and beyond.
