Software firms need stimulus<\/p>\n
NEW DELHI (AFP): India's software industry has asked the
\ngovernment to slash red tape and reduce taxes in order to sustain
\n50 percent growth and achieve a US$50 billion export target by
\n2008.<\/p>\n
Dewang Mehta, president of the National Association of
\nSoftware and Service Companies (NASSCOM), said Tuesday the
\nindustry would be able to achieve a $6.25 billion revenue target
\nin the current fiscal year, and $9.5 billion next year provided
\nthe government continued its support.<\/p>\n
Mehta told a news conference the industry had sought a range
\nof incentives from Finance Minister Yashwant Sinha in the
\nforthcoming budget.<\/p>\n
\"The current need is to continue with the incentives, further
\nsimplify procedures, implement more economic reforms, (and)
\nreduce the cost of computerization,\" he said.<\/p>\n
He said the government should maintain a service tax exemption
\nfor the software sector and allow a five-year tax moratorium on
\ne-commerce.<\/p>",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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