Japan is the world’s second largest IT market after the United States. India’s software export to the Japan is $500 million, representing one per cent and it was very miniscule, said D. K. Sareen, Executive Director, Electronics and Computer Software Export Promotion Council (ESC) on Monday.

Addressing the members of Indo-Japan Chamber of Commerce and Industry, he said, “the opportunities that Japan offered was immense, but we have not utilised it fully. If India increases its exports by 100 per cent, then we can achieve the full potential.”

While urging the Indian software firms to take part in the ‘Japan IT Week 2014’, he said it was the largest trade show wherein participants can find latest IT technologies and solutions. It would be visited by a great number of information systems manager, management executives, sales managers, system integrators and managers from IT system division.

Japan IT Week will be held for three days at Tokyo Big Sight from May 14. The participation cost is Rs. 2 lakh plus service tax. ESC would be providing a fully furnished 8.1 square meter stand.

The current slump in the economy has forced Japan to adopt new models for delivering software. More and more Japanese firms are open to the idea of using readymade software packages rather than custom built solutions, said an ESC member.

Japanese Deputy Consul General Koji Sugiyama said that Indian IT outsourcing was set to grow faster during 2014-15 than last year. He also urged the Indian firms to make good use of the Japan IT Week show that would also concurrently hold specialised shows on software development, data warehouse, embedded systems, data storage, information security, cloud computing, smart phone and mobile among other topics.