Proposed SEZ scheme not favourable for industry: NASSCOM

By Staff
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Google Oneindia News

Kolkata, Dec 06 (UNI) The Union Government has amended IT ACT, 2000, to facilitate growth of the IT industry in the country, NASSCOM Vice-Chairman B Ramalinga Raju said here today.

He said the Act would be placed in the winter session of Parliament with certain new clauses on data protection. '' The suggested amendments have already received Cabinet approval, '' Mr Raju said.

The NASSCOM had also urged the Centre for extension of the STPI scheme based on feedback received from cross-sections of the IT industry.

'' The STPI does not provide adequate incentives and concessions to the industry. The foreign companies will not invest in this country if they are not lured by attractive incentives, '' he stated.

Moreover, the sunset clause, which included fiscal benefit for the IT industry, will end in 2009. Instead the government had offered SEZ scheme, which was not very favourable for the industry, particularly SMEs, he said.

'' We have asked the Union government to make changes in this proposed scheme, '' he added.

UNI JYN SJC RN1744

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