New Delhi, 8th October 2011: Union minister for Human Resource and IT and Communication, Mr. Kapil Sibal detailed on Draft IT policy yesterday.
The fundamental purpose of the policy is the uplift of the IT sector. According to the ministry, government is planning to bring up stable tax regime and policy changes to attract more investors towards the Information Technology sector. Moreover the policy also suggested that it is required to attract more investors towards smaller cities. Government is also planning on providing incentives for small and medium enterprises for the overall uplift of the IT sector and also to attract fresh entrepreneurs into the industry. He also suggested that there is a requirement of matured research and development infrastructure. This will enhance the upcoming small enterprises in rural areas and semi urban areas to understand the drawbacks and rectify those time to time.
The draft policy which is expected to be finalized by the end of this year, aims at increased revenue from the industry. It is expected that the IT and BPO sector will enhance its business up to $ 300 billion and generate employment for more than 10 million technical graduates by the end of 2020. At present the status of BPO and IT sector is $ 88 billion and holds 2.5 million professionals. Kapil Sibal also added the department is planning to strategies to make sure that every house will have an e-literate, so that it will provide employment as well as make more people aware about the BPO and IT industry. Moreover the policy also focuses on setting up Centers of Excellence in Institutes. According to him this measure will help to produce about 3,000 Ph.D.s in ICT.
The measures taken will help IT and BPO industry in India to grow rapidly and also to become a global hub. Today the country holds immense experience in the Information Technology and Business Process Outsourcing business and has been ranked in the top. But there are also threats for the industry, such as upcoming near shore and onshore markets. Enhancing BPO business in the rural and semi urban areas will make drastic changes along with increase in economy. It can easily change the face of the nation as more employed graduates will be seen in the country and also increase the standard of living of people.
The draft policy also extends with polices for the enhancement of telecom sector and also bring in electronic delivery of services for government services.