"Decentralising IT hubs, recognising talent by funnelling adequate funds to support underdeveloped cities will go a long way in increasing employment and levelling platform between the rural and the urban divide," he added.

KPIT Senior VP and Head (Corporate Finance & Governance) Anil Patwardhan said there is a need to clarify certain ambiguities in the Indian corporate tax structure in order to avoid litigations and help the IT industry function smoothly.

"Our major concern in indirect tax area is that software licences procurement attract VAT as well as service tax under the existing laws. Software should be put under one category," he added.

Procedures like renewal of SEZ unit approval, grant of 100 percent credit, for which assessed is eligible for TDS, to be simplified through online system, Patwardhan said.

Analysts feel that at present there is a lack of clarity on multiple policies including the transition to GST and FDI in Retail.

Greyhound Research CEO Sanchit Vir Gogia said the lack of clarity has paralysed IT investments and decision making in many instances has stretched to over four quarters.

"This continues to plague organisations in BFSI, Retail, Manufacturing and multiple other verticals that have a high degree of dependence on such policies," he added.

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