For the upcoming Budget 2021, Keshab Panda, CEO, L&T Technology Services says:
With the emergence of India’s engineering services capability coming into prominence particularly during the pandemic phase, the industry expects that the Union Budget makes provision for extension of software exports incentive scheme under the Foreign Trade Policy beyond FY2021.
Furthermore, it will help if a policy related to exemption of direct tax in SEZ for organisations is considered as it will enable the tech players to enhance respective capabilities in India across Tier 1 and Tier 2 cities.
Engineering Research & Development (ER&D) is an important lever for the Indian technology industry and fosters innovation and cutting edge technology which can make Brand India shine on the global stage. We hope the Government will earmark funds which can be deployed for the ER&D services sector to advance scientific research and incubate new digital technologies.
Overall, our belief is that the pace picked under the pandemic has provided the Indian IT sector and within it, the engineering services domain, in particular, the ideal opportunity to attain global fame like never before. The right support and incentive-based support can help take the sector to newer heights including the creation of millions of jobs in new-age digital engineering space.
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