Wednesday, 15 August 2012

IT Exports

The estimated revenue generated through IT export during the year 2011-2012 is US $ 77.9 billion. The projected target set for IT exports during the current financial year (2012-2013) is US $ 87 billion. For the growth of domestic hardware brands, Government has taken a number of initiatives to enable India to become a major power in that sector. Some of the major initiatives taken by the Government are as under: - 
• Policy to provide preference to domestically manufactured electronic products in procurement due to security considerations and in Government procurement has been notified. 

• Electronics Manufacturing Clusters Scheme to provide world-class infrastructure for attracting investments in the ESDM Sector has been approved by the Government. 
• A Modified Special Incentive Package Scheme to offset disability and attract investments in Electronics Systems Design and Manufacturing (ESDM) Industries has been notified. 
• Government has constituted an Empowered Committee (EC) for identifying technology and investors for setting up Semiconductor Fabrication facilities in the country. 
• For the promotion of Research & Development (R&D), a weighted deduction of 200% of expenditure incurred on in-house R&D in case of a company engaged in the business of electronic equipment, computers and telecommunication equipment is available under the Income Tax Act.
This was stated by Shri Sachin Pilot, the minister of State in the Ministry of Communication and Information Technology in response to a question in Lok Sabha on 8th August 2012.

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