IT industry awaits a ‘holiday’ Budget

D. Murali Chennai: The US’ stand on tax breaks for firms outsourcing jobs to overseas destinations, and the competition to Indian IT-ITES (information technology enabled services) from emerging outsourcing destinations such as the Philippines, China, Sri Lanka and Mexico, are among the worries that Balaji N. V. , a senior tax professional with Ernst & Young, India, expresses, during a recent email interaction with Business Line. “A recent report has indicated that the Indian IT-ITES industry, in the light of the worst-ever global meltdown, is expected to grow at 10.8 per cent in 2009, the lowest in the last five years. The decline in growth rate in this sector has repercussions on other sectors too,” he adds. Excerpts from the interview. What are the top expectations of the industry? To ensure that India continues to be an... [read full story]                    

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