IT Industry Looks for Budget Sops to Reboot: Nasscom Chief
BANGALORE: Like other sectors of the economy, the Indian IT industry too hopes that the budget for fiscal 2014-15, to be presented in parliament by Finance Minister Arun Jaitley, will spur growth and address its concerns, which are holding up fresh investments and creation of new jobs.
"Though we have returned to double-digit growth and stay on course to sustain the momentum, we hope the first budget of the Narendra Modi government would be equally pro-active to enable us keep pace with disruptive technologies and changing service delivery, a leading industry representative said.
Admitting that the multi-billion dollar industry had matured in offering software services and making India emerge the world's back office, industry body Nasscom president R.Chandrashekhar said the regulatory policy had to be tweaked and sops given to promote start-ups and small and medium enterprises in products space.
"IT bellwethers TCS, Infosys, Wipro or HCL do not look for sops or reliefs in the budget, as they are well established, global and resilient. It is the rest of the companies in the pyramid structure that seek state support to move up the value chain and compete with peers for a larger share of the pie," Chandrashekhar told.
With global IT spending projected to grow faster this year by 3.9 percent and business process management (BPM) by 5.9 percent, the National Association of Software and Services Companies (Nasscom) has projected 14-15 percent growth in IT exports to $99 billion this fiscal from $86 billion last fiscal (2013-14), which is a 13 percent year-on-year (YoY) growth.
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