Pre Budget Comments from HYSEA

 

Mr. M Narsimha Rao, President HYSEA says-

As an Industry we are positive about the budget which will be presented in July. We are looking for policy interventions to help regain the momentum and bring back the high growth rates we have seen in the industry. We need the Government to enable higher investments into Infrastructure development, Primary & Higher education, in strengthening security and to encourage Innovation, R&D and Intellectual Property creation. We need a healthy eco-system of SMEs in this sector and some specific policy interventions to help the smaller companies would immensely benefit the industry. In the current environment we are also looking for schemes which encourage higher job creation and we in the IT/ITES industry have tremendous job creation potential so any kind of support from the Government would further enhance that. Specifically for the short term, we need the Government to extend the Tax benefits under the STPI scheme for a further period of 10 years & allow greater freedom in movement of existing business into SEZs for IT/ITES companies who are reeling under the pressure of global slowdown. Indian IT/ITES industry has a very promising future but considering the current economic scenario Industry needs a lot of support from the new Government and we expect that to show in budget 2009.

 

 

M Narsimha Rao’s Profile:

Narsimha Rao is the president of HYSEA (Hyderabad Software Exporters Association) and is vice president and head of the Hyderabad Center for Infosys. Narasimha Rao has been associated with HYSEA for four years in his capacity as its managing committee member. HYSEA is a registered apex body with more than 300 members representing the software industry in Andhra Pradesh.