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Nasscom to bring in SEZs for smaller cos in smaller towns
By siliconindia
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Monday, 26 July 2010, 22:23 IST
Hyderabad: Nasscom has initiated to allow smaller companies to function as Special Economic Zones (SEZs) in smaller cities, inorder to encourage smaller companies to set up ventures in small cities. It would also address the issue of affordability for small companies in setting up units in SEZs in big cities.
The Government is yet to announce a moratorium of three years to allow all the SEZs under development to be ready. "They should set a deadline of 2014 and allow all the tax benefits to the units set up there. Thousands of acres of land have been taken up for the SEZ development. It will take some time before they are ready. And (IT) units would come up only after the facilities are ready. We hope the government will consider the proposal," said Som Mittal, President of Nasscom.
The association is hopeful of achieving the 13 to 15 per cent growth projections forecast for 2010-11. "The first quarter results of companies are positive and many companies have upped their estimates. And companies are hiring," said Mittal.
"The southern States churned out about 4 lakh engineering graduates every year, but most of them are found to be unemployable. The major challenge was quality faculty," said B.V.R. Mohan Reddy, Chairman and Managing Director, Infotech Enterprises