The Government should seriously look at improving the power situation and other infrastructure as many IT companies are seriously looking at expanding their operations in other States or shifting from Visakhapatnam, former chairman of CII Vizag Zone and CEO of Maple Software G.S. Shiva Kumar said.
The Odisha Government is going all out to woo the IT industries which have a high employment potential with the lowest gestation period, he said during an interaction with media on Wednesday adding that his company was looking at expanding its facility there. He was not alone, he explained.
Noting the poor outlook for the industrial sector due to power crisis and low demand, chairman of CII Vizag Zone and Director (Commercial) Rashtriya Ispat Nigam Ltd T.K. Chand wanted the Reserve Bank of India to look at cutting the interest rates in the last quarter of the fiscal to boost the market.
There is a need for a relook at the monetary policy as the liquidity crunch was affecting industrial growth, he said. He also wanted the Government too take a look at the power policy as the power shortage was affecting the industry.
