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Budget 2015-16: IT-ITeS industry demands clarification on Rs 10,000 cr startup fund

Tags: startup funding, IT-ITeS industry, startup ecosystem, BVR Mohan Reddy, Hyderabad Software Enterprises Association, Budget 2016-16

February 21, 2015 | COMMENTS ( 0 )

Budget 2015-16: IT-ITeS industry demands clarification on Rs 10,000 cr startup fund

Domestic IT and ITeS industry has sought more clarity on the Rs 10,000 crore startup fund announced by the government in Union Budget 2014-15.

"For the startup ecosystem, clarity in operationalising the Rs 10,000 cr startup fund will be great. The implementation will boost growth, thereby enabling startups," said Ramesh Loganathan, Vice President and MD, Progress Software and President of Hyderabad Software Enterprises Association.

Speaking on the same lines, BVR Mohan Reddy, Executive Chairman, Cyient Ltd, said, "IT industry expects that Digital India, Make in India and Smart Cities programmes hold tremendous potential to transform the country as the future lies in digital world."

Reddy also emphasised that ease of doing business, correction to inverted duty structure and streamlining of procurement processes are some of the areas, where the industry expects key announcements.

Y Guru, Chairman and MD, Celkon Mobiles, said, "Investments in terms of technology and infrastructure should be given more weightage when formulating incentives. The government should redefine the policies related to investments and provide for rebates or incentives accordingly." 

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