Bangalore, Sep 25 (IANS): Indian IT representative body Nasscom and Fujitsu Research Institute (FRI) of Japan have signed a pact to promote cooperation in the IT-BPM (information technology-business process management) sector.

"The agreement facilitates setting up of common platforms to promote networking opportunities between Indian and Japanese businesses over the next two years in IT and BPM services," Nasscom vice-president Ameet Nivsarkar said in a statement here Wednesday.

Though Japan is India's third largest source of foreign direct investment after the US and China, the bilateral trade does not reflect the potential in the technology sector.

"The game plan is to provide a platform for Japanese businesses to access vital information about India and its IT-BPM industry. The partnership also provides an opportunity for the Indian vendors to showcase their service capabilities and network with the Japanese businesses to boost bilateral trade in the technology sector," Nivsarkar asserted.

Besides organising workshops, the partners (Nasscom and FRI) will publish newsletters to disseminate information on the service offerings of the Indian IT-BPM industry.

"The partnership will help Indian and Japanese companies familiarise with the working style of both countries. The scope of the pact includes various pre-determined activities to benefit Indian IT vendors and Japanese businesses," FRI global business head Yoshiro Suzuki said in the statement.

While about 1,000 Japanese firms operate across the country, many more look at India as a market for business, talent and partners in the knowledge-driven new economy.