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BW Businessworld

'Focus On Skill Development; Develop Domestic Market'

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R Chandrashekhar, President, Nasscom, shares with BW|Businessworld his expecations from the Budget to be tabled on 10 July. While talking about different sets of demands for the established IT/ITeS sector and the start-ups, Chandrshekhar pointed out that the industry will benfit if there is growth of IT centres outside of the seven major centres and the government focuses on skill development.

Essentially the IT sector consists of two distinct segments. The IT/ITes segment consists of major, established companies and his expecation on their behalf will be predicatability, transparency and ease of compliancy needed for business to grow along with more investments.

The second segment consists of SMEs/startups/product companies and these have different needs. Lots of innovation and employment generation will come from here and they can be expected to  contribute $100 million in revenue. This sector needs a proactive and forward-looking government support with infrastructure helping accelarators and incubators. Their demand also includes reduction of the  burden of compliance.  Also, as SMEs have no bankable asset, so they need special measures and steps, flow of institutional credit  etc.