The Hindu : Business : Nasscom wants tax holiday extended

Online edition of India's National Newspaper
Tuesday, Aug 28, 2007
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Business

Business

Nasscom wants tax holiday extended

Sandeep Joshi

China, Brazil can challenge India’s leadership in the years to come

‘China adopts progressive policies’
Focuses on education, HR, says report

NEW DELHI: With countries like China and other developing nations making extra efforts to increase their market share in the global information technology arena, the National Association of Software and Service Companies (Nasscom), the body of Indian IT software and services industry, has asked the Union Government to start thinking seriously on extending the tax holiday to the high-potential sector beyond 2009.

The cause for concern among the industry leaders is the Government’s failure in addressing the issues concerning the industry and the steady growth of the sector in countries like China and Brazil that can challenge India’s leadership in the years to come.

“Experts from China have been coming to us and adopting progressive measures and policies, which our Government is abandoning, to boost their growth.

“We need the Government to realise this and take measures to give a fillip to our industry,” Nasscom Chairman Kiran Karnik said while taking to The Hindu.

In its latest report, Nasscom has revealed that China is focusing hard on education and human resource development besides framing favourable government policies for its IT sector.

The Nasscom Chairman has also welcomed the recommendations of the Parliamentary Standing Committee on Commerce, looking into the special economic zone (SEZ) issue, favouring extension of tax holiday to the IT sector beyond 2009.

The Committee has recommended this to stop the mad rush of the IT sector to set up SEZs across the country.

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