The Hindu Business Line : New strategy to be charted out for SMEs growth

Software Technology Parks of India (STPI) has enlisted the services of Ernst & Young to chart out a strategy to help accelerate the contribution of the burgeoning SME segment of the IT sector.

Mr B.V. Naidu, Director of STPI, Andhra Pradesh and Karnataka, said that there are about 3,500 SMEs in the IT sector and their contribution is now estimated at about 35 per cent of the country's total exports of about Rs 1,00,000 crore.

The STPI would like to help accelerate their output and cover other segments and step up contribution to exports.

"While we have initiated a series of steps to support their cause, including move to locate incubation centres and lately intellectual property (IP) zones, there is scope to play a more strategic role in terms of other support functions, be it some local concessions or tax sops," he told Business Line.

Referring to new initiatives of STPI, Mr Naidu said that the IP Zone created by it has been received well by the technology sector.

This has provided for a platform to demonstrate the technologies developed by some of the companies based in India.

Traditionally, these companies shy away from announcing about the IP developed by them as their focus is US and Europe-centric.

STPI plans more such zones to encourage IP creation in the country.

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