Within days of announcing a draft electronics policy, communications and IT minister Kapil Sibal has announced a draft IT policy that seeks to strengthen India's position as a global IT power. The policy targets to raise India's IT and ITeS revenue from $88 billion to $300 billion, and its exports from $59 billion to $200 billion by 2020. IT industry veterans say the policy is a great initiative.
Som Mittal | president, Nasscom
We did not have a national IT policy till now. So this is a welcome move. The timing is also good because the 12th Five Year Plan is getting ready, and this policy may ensure that budgetary allocations are provided for IT in the Plan. The focus of the policy is to encourage small and medium businesses to leverage technology, and to push IT to tier-II and III towns. There are indications that once the Direct Tax Code is in place, it will extend the deadline for formation of SEZs in smaller towns beyond 2014. The policy also seeks to promote R&D and innovation through innovation funds, which again will help the sector move up the value chain.
Krishnakumar Natarajan | CEO, MindTree
The policy is a step in the right direction. IT is an industry that is capable of creating millions of jobs. The draft talks about creating 10 million jobs by 2020. Such an exercise should be done covering even the remotest of villages. Such inclusivity requires strong political will. The policy shows some indications of focusing on the global competitiveness of our medium and small companies. It should realize that there are many emerging countries that can give us tough competition. The new policy should be friendly to the SME sector.
Siddharth Pai | MD, TPI Advisory Services
The final policy should focus on three things: government's direct investment in education and skill development, a point that the draft policy mentions; lifting trade barriers within and outside the country; and removal of double taxation and simplification of the tax regime.
Monday, 10 October 2011
IT policy a great initiative: Experts - The Times of India
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