iFlex seeks greater clarity in SEZ policy

Bangalore, Feb 21 (UNI) iFlex Solutions India Operations CEO Deepak Ghaisas today sought greater clarity in the Special Economic Zone (SEZ) Policy of the Centre and said it should be consistent and sustainable.

In a statement presenting suggestions to Union Finance Minister P Chidambaram for the next budget, he said greater clarity in SEZ policy and schemes would help industry take up long-term planning.

Mr Ghaisas said there should be extension of the Software Technology Park scheme and Section 10A of the Income Tax Act, especially to protect investment in the IT industry, particularly by the SMEs. This would be beneficial for the industry because smaller units did not have the ability to make large investments in SEZs. It would also create a level playing field for SMEs especially as global competition had become fierce.

He said to allow Biotech and Infotech companies to move up the value chain, there should be some incentive for creating Intellectual Property Rights. Revenues from IPR in the form of royalty/license fees should be exempted under Section 10 of the Income Tax Act.

Mr Ghaisas advocated a long-term educational policy to make sure that the requirements of the knowledge industry were met.

On the infrastructure requirement, he said there should be a time-bound plan and more accountability for the creation of infrastructure, especially roads, airports and power.

UNI