HIGHLIGHTS:
The pressure to renew the Software Technology Parks 10-year income tax exemption continues, with the new Minister of IT & Communications, A. Raja, as well as the West Bengal Government adding their voices. In addition, an important new argument for its extension has been provided by Kiran Karnik, President of NASSCOM- that the strength of the rupee versus the dollar is harming India’s attractiveness for new IT services work, and that a renewal of the exemption would limit the harm of the rupee’s appreciation.
Domestic privacy issues in India continue to generate a moderate level of attention. For instance- India’s telecom operators to inform customers of the not-call list, which will be in force later this year, and we’ve also included an interesting article from Business Today that highlights how much privacy an employee can (or cannot) expect in the workplace in India.
1. Raja writes to FM for extending STPI scheme till 2019 (Press Trust of India, Aug 9)
2. Bengal for Extension of Tax Sops Under SEZ Scheme (Financial Express, Aug 13)
3. Info Tech ‘Tax Sops Will Help Offset Rupee Impact’ (Hindu BusinessLine, Aug 7)
4. Whither Special Economic Zones (Hindustan Times, Aug 9)
5. No slowdown seen for IT, ITeS captive centres here (Economic Times, Aug 14)
6. BPO biggies shy away from BOT projects (Economic Times, Aug 14)
7. IT leads India Inc's hiring spree (Sify.Com, Aug 14)
8. Campaign on do-not-call registry set to start (Economic Times, Aug 9)
9. Prying At Work, Formula for Growth, Help (Business Today, Aug 26)
1. Two Infosys SEZs among six cleared (Hindustan Times, Aug 8)
2. Cisco Sees East a Lucrative Market (Financial Express, Aug 9)
3. Wipro plans US expansion, to hire locally (Economic Times, Aug 14)
4. Prudential may sell India BPO (Economic Times, Aug 9)
Source USIBC Economic Letter
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