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Exporters caution against added paperwork, want GST-based compliance system
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At a meeting held on August 1, Nasscom flagged that the draft proposes a new Export Declaration Form (EDF) for services, including software, in place of the existing SOFTEX form. However, the industry fears the new EDF would only add extra paperwork.
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The IT sector's body urged the industry, academia and the government to collaborate in bridging this skilling divide, and including talent development as a national imperative
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Citing models from Delhi, Telangana, and Rajasthan, Nasscom urged Karnataka government to extend the June 15 deadline and initiate consultations for a balanced regulatory framework.
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The Finance Bill 2025-26 proposes eliminating the 6 percent Equalisation Levy on online advertising services, effective April 1, 2025, a move that will benefit tech giants like Google, Meta.
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Over 1,680 of India’s approximately 1,750 GCCs house ER&D services, with a sizeable percent of the top 50 global engineering service providers headquartered in India
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NASSCOM warned that restrictions on data flows could discourage investment, impact global competitiveness, and increase compliance costs for companies
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Nasscom said in a statement that the global tech industry, which is largely customer-focused, operates on a merit-based system, emphasising high-tech skills to meet evolving customer demands.
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Outside the automotive segment, he continues to remain bullish on the company’s ER&D business growth from other verticals such as semiconductors and telecom, Vijayakumar has said
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Fadnavis congratulated UP CM Yogi Adityanath for his handling of Maha Kumbh in Prayagraj, which saw footfalls more than the population of entire Europe.
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India's technology industry's revenue is expected to reach $300 billion at the end of FY26.
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The National Association of Software and Service Companies (Nasscom) expects the industry's revenue to grow to $282.6 billion in fiscal 2025 and cross $300 billion in fiscal year 2026.
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Infosys CEO Salil Parekh said the company has been able to generate revenue from Generative AI, which is expanding the market for newer projects. The company sees massive productivity boost from AI, CEO Salil Parekh added.
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Creation of a grant framework for the deeptech ecosystem, and making the deferment of the time of payment of tax on Employee Stock Option Plan available to employees of all DPIIT-recognized startups also tops the Budget expectations of the industry
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The tech industry body said it is committed to advancing the India-US collaboration for a democratic, inclusive, and sustainable innovation ecosystem.
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According to a nasscom report, 75% of these startups in H1 CY2024 are now generating revenue, a significant jump from 22% in H1 CY2023. India ranks 6th globally in the share of GenAI startup ecosystems among major economies.
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Earlier, analysts expected the sector to recover by the first quarter of FY26, as and when the macroeconomic situation were to improve.
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Nambiar will succeed Debjani Ghosh, whose term ends this year in November 2024.
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Nasscom said that the issue is not a new problem and courts have been ruling in favour of the IT industry in such cases.
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"Aimed at providing opportunities to startups and the developer community to build GenAI solutions using open-source technologies in various sectors, nasscom in partnership with Meta has launched the Open-Source Generative AI Grand Challenge. The challenge aims to showcase the potential socio-economic impact of these innovations on society and businesses," Nasscom said in a statement.
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Other measures highlighted by the IT industry's apex body as being welcome steps include a cut in TDS rate on ecommerce operators; expansion in scope of safe harbour rules and streamlining of transfer pricing assessment procedures; and Rs 1000 crore venture capital fund for space tech
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Kharge assured the industry that no detrimental rules or laws would be enforced without due consultations with stakeholders.
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The restrictions will force companies to relocate in the face of shortage of local skilled talent, the industry body has said. The bill was cleared by the state cabinet on July 15
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Nasscom says the draft bill assumes gig work as employees, even though gig work is very different
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Gen AI was referred to as the “Internet Equivalent of our times” and the “new keyboard” by BFSI players at the Nasscom GCC conclave in Bengaluru.
