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CNBC-TV18 reports that it’s day one of the NASSCOM Chief Executive Officer summit and the head honchos of India’s IT and business process outsourcing (BPO) sector seem quite optimistic on the current situation and the road ahead. NASSCOM, in fact, said that the ITeS industry will grow by 15% for the year. We are indeed hearing a lot of positive comments coming out about the industry. It was a very optimistic mood. We managed to speak to a lot of players including the largest two BPO players which is both Genpact and Infosys BPO, sounding very optimistic. NASSCOM, in fact, has said that the ITeS industry will grow by 15% for the year and achieve about USD 60 billion in revenue and is confident that target will be met despite the fact that we are in the kind of economic situation that we are in. NASSCOM also predicts that the recovery will start by late FY09-10 ie by the end of this current fiscal. However, two points that were really coming out of today’s seminar here in Bangalore – one was a demand by the ITeS industry and by the IT industry is the extension of Software Technology Parks of India (STPI) scheme. Som Mittal, whom we managed to catch up with on this particular issue, said that even if the STPI scheme does not get extended. He is hopeful it will get extended. But, just in case it doesn’t get extended, he says, “We still have one-years time because the STPI scheme will be phased if at all only by March of 2010 and therefore there is about a year’s time left in that.” So he is confident that one will not have too much of an impact. The second point really was the removal of the double taxation policy which is on at the moment—companies are confident that the government will look into this favourably when they announce the Budget on July 3. |
ITeS industry to achieve 15% growth this fiscal – NASSCOM
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