And there are more unpleasant realities expected to come in the near future of the IT Industry. First is the falling dollar. I understand inter-dependence is of high importance for a national economy to flourish. But a falling dollar in reality indicates yet another recession in the heavily dependent services-based Indian IT sector. Moreover, it can be a hit for both small scale and large scale software companies with news like these :-
The STPI scheme has special benefits like "Duty Free" Import for Hardware and Software, exemption for Corporate Income Tax etc. The IT industry has been pampered atleast for the past 2 decades. In 2009, we have to see how things shape up. But I believe that the Indian Economy will kind of stabilize, with a software job becoming another normal chaakri naukri.
Read the related article Why IT chiefs are nervous about the future
What worries IT firms more is that the STPI scheme, which exempts their export earnings from tax, will be withdrawn in 2009. The industry is lobbying hard with New Delhi and even BPO firms have raised the demand for similar benefits. So far, the finance ministry has given no indication of warming to the idea.
The STPI scheme has special benefits like "Duty Free" Import for Hardware and Software, exemption for Corporate Income Tax etc. The IT industry has been pampered atleast for the past 2 decades. In 2009, we have to see how things shape up. But I believe that the Indian Economy will kind of stabilize, with a software job becoming another normal chaakri naukri.
Read the related article Why IT chiefs are nervous about the future
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