‘IT a vital tool for sound corporate governance'

The importance of corporate governance is widely recognised nowadays, but more thought needs to be given to the role of IT in developing the necessary support systems, Mr Umesh Chandra, the Director (Operations) of Visakhapatnam Steel Plant, has said.

Seminar

At a press meet here on Tuesday, Mr Chandra, also the Chairman of the local chapter of the Computer Society of India, said the CSI in association with the steel plant and the Visakhapatnam IT Association (VITA) is organising a seminar on the issue on February 27 and 28 at Hotel Gateway here. The inaugural will be organised at the same venue on February 26.

He said the interests of all stakeholders should be protected in any company, and for the purpose “it is necessary to have sound systems based on IT. The importance of IT cannot be overemphasised as it paves the way for transparency.”

He said the Visakhapatnam Steel Plant was making wide use of IT-based systems and was conducting e-auctions and e-procurement.

Mr A.P Chowdary, Director (Projects) of the steel plant and also the co-chairman of the local chapter of the CSI, said 300 delegates would participate in the seminar.

He said many of the systems were being adopted in taking up and executing the expansion project of the Visakhapatnam steel plant.

Mr B. Murali, president of the VITA, said Visakhapatnam was occupying an important position in the State after Hyderabad, with the IT exports amounting to Rs 800 crore a year.

“We have ambitious plans to take it to Rs. 7,000 crore by 2015. We feel it is possible to achieve the ten-fold growth, if the Government and the IT companies work together,” he said.

Nasscom meet

He said Nasscom was also organising a seminar here on February 27 – Nasscom Emerge – to focus on IT companies turnover below Rs 100 crores.

“It is the first time such a seminar is being organised here and most of the IT companies here fall into the category. It will be of great use to them to devise strategies to upscale their operations. The seminar will be held in Hotel Grand Bay,” he said.

Prof. S.R Gollapudi and others also spoke.