Financial Daily from THE HINDU group of publications
Friday, Feb 08, 2002
Financial Daily from THE HINDU group of publications Friday, Feb 08, 2002 |
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Info-Tech
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IT-enabled Services Nasscom steps outlined for IT-enabled sector Our Bureau
MUMBAI, Feb. 7 NATIONAL Association of Software and Services Companies (Nasscom) on Thursday released a plan outlining the key imperatives that both the industry and Government to follow in order to achieve growth in the IT Enabled Services (ITES) sector. The Association also identified five focus markets for this sector which include insurance, e-commerce, technology vendors, financial services and telecommunications. According to a Nasscom study, the ITES sector is growing close to 75 per cent and is on course to achieving its target of Rs 7,000 crore for 2001-02. The association, however, said the sector was faced with fundamental set of challenges on both the demand and supply front. "It is critical for the sector to identify where its opportunities lie or it may soon be faced with risks such as overcapacity and dependence on intermediaries to access customers, resulting in reduced profitability. We have, thus, identified key imperatives for all participants in the industry,'' Mr Vandrevala said at a press meet held at the sideline of Nasscom 2002. For the industry these strategic points include investing in target markets, building credibility, attracting venture capitalists, signing service level agreements and maintaining low attrition rates. The association has taken upon itself to build India as a credible destination for ITES outsourcing, set standards of evaluation, educate banks and institutions to encourage quasi funding, increase supply of talent pool, lobby with international bodies in target markets and sustain interaction between the ITES players. Meanwhile, the Government, according to Nasscom should classify ITES under Essential Services Maintenance Aact to ensure 24/7 working and establish credibility; set up a non profit body - Indian Institute of Global services for training and education; extend benefits under Section 10 (A) and 10 (B) despite changes in shareholding patterns etc; reduce costs of telecom connectivity and permit connectivity of international and domestic networks .
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