Industry & Economy
-
Budget
Info-Tech
-
Outsourcing
Outsourcing industry needs next dose of boost
With the worst of the global crisis probably past us, India Inc can now ready itself for future opportunities. Now is a good time through the Union Budget to support entrepreneurship that will help our country recover its high growth rates, as liquidity improves.
In the current environment, it is clear that companies in the US and in Europe will look for more avenues to offshore activities and thereby, to cut costs.
The Indian outsourcing industry, with its promise of tremendous employment potential, needs its next dose of boost. The Government can help by removing the uncertainty on the future of tax holiday available to such units, under the STPI scheme. Instead of potentially renewing the tax holiday each year, a one-time additional five-year tax holiday will attract the right kind of strategic investments.
It is well documented that several industries lack a steady supply of fully trained and skilled manpower. With domestic universities unable to fill the gap, the need for international quality in higher education remains a concern. I wish we leverage the Union Budget to welcome international universities to partner, operate and build scale in the country.
The financial crisis has also brought to the forefront the need to build businesses with long-term sustainable perspectives. With the right kind of incentives under the Budget, I think this can partially be done by attracting significant investments and financing of industries that contribute towards sustainability and broader environment related concerns, such as alternative energy.
Sreeram Iyer, Chief Operating Officer, Standard Chartered Bank
More Stories on :
Budget |
Outsourcing
Article
E-Mail
::
Comment
::
Syndication
::
Printer Friendly Page
|
