New Policies Should be IT Friendly: India Inc.
Glad that the Congress led UPA government is back in power; India Inc is hoping that the new policies are more IT friendly
S. Krishnan Thyagarajan, managing director India Sub-Continent of Quest Software India said, UPA getting a clear mandate will help the economy as a whole because now they can pursue more aggressive economic reforms without encumbrances. However I don t anticipate any special impact on the IT industry. IT has been one of the least governed industries, and as long as it stays that way IT industry can take care of itself.
Lakshmi Narayanan, vice chairman, Cognizant said, The decisive mandate will enable the UPA government to pursue aggressive policies for inclusive growth, and do so rapidly. In addition to the imperatives of long-term policy measures to ensure the sustainable development of the country, matters of infrastructure development and security also call for meaningful action. Considering the significant contribution that the Indian IT and BPO industries have made to the country s economy, we look forward to more proactive policy initiatives and extension of tax and other benefits from the government to boost the competitiveness of the industry and enable it to seize the opportunities thrown up by the changing world economy.
Sudhindra Mokhasi, chief executive officer of e-Sutra said, Firstly the clear mandate is good and the mandate for UPA led by Manmohan Singh is even better for the overall business climate in India.
For IT, Direct benefit would be possible by the STPI regime being extended Maran, a key ally of the UPA has indicated as much on a TV channel recently - post election results. The growth in India is expected accelerate with this government and for the last couple of years, IT companies have started focusing on the India market to sell IT services. This will at least in some part compensate for the reduction in business from traditional foreign markets. Overall, based on previous track record, I expect the government to be pro-active in supporting the IT & ITeS industry.
Shankar Gurkha, chief information officer of Gujarat Industries Power Company Ltd (GIPC) said, It s very clearly a mandate for stability. The IT industry could benefit from continuity of same party government with stronger mandate. Relation of UPA with US after nuke deal will help IT industry in this tough time. In my opinion IT industry will further prosper but will take some time and effort.
K Vaitheeswaran, co-founder of Indiaplaza.in said, It is a tribute to the wisdom of the people of India. Every one was talking about a hung parliament but the people had other plans. Such decisive mandate means the government can no longer have any excuse for non-implementation of more reforms. Given the economic recession, I expect more tax concessions for IT industry for a few more years to further fuel exports of software. I also expect a common GST rule that will also help IT investments within India.
Venkat Sundaram, chief representative (India) of Stromasys said, With a stable government being formed by UPA, there will be a general boost amongst all the industries. With more young ministers (supposedly more technical savvy), it may become more IT friendly government for most of the cross industry sphere. This will result in more IT investments in Cross Industries for productivity improvement. Continuity of implementation of decisions taken by the last UPA government will be far easier and faster and so it may be perceived to be a result oriented government in the short term, at the least.
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