by October 10, 2011 0 comments

The policy targets to raise India’s IT and ITeS revenue from $88 billion to $300 billion, and its exports from $59 billion to $200 billion by 2020. IT industry veterans say the policy is a great initiative.

Som Mittal, president, Nasscom commented, “We did not have a national IT policy till now. So this is a welcome move. The timing is also good because the 12th Five Year Plan is getting ready, and this policy may ensure that budgetary allocations are provided for IT in the Plan. The focus of the policy is to encourage small and medium businesses to leverage technology, and to push IT to tier-II and III towns. There are indications that once the Direct Tax Code is in place, it will extend the deadline for formation of SEZs in smaller towns beyond 2014. The policy also seeks to promote R&D and innovation through innovation funds, which again will help the sector move up the value chain.”

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