India to Lead IT in technical services....
India has now set to become a global leader in IT services as many software companies have moved towards Indian markets because of the weak US dollar which hurt economic recovery.
As the Chairman and CEO of business publisher Steve Forbes, 62, said “This year I think the US government has made a number of mistakes that has slowed the recovery. They've not reduced taxes ... in terms of the dollar; they have not stabilized the dollar. They've weakened the dollar which hurts business investments, hurts the flow of capital and small businesses” when he was asked that what he made of the US government's response to the worst global economic crisis since the Great Depression.
"So the government is prolonging the crisis -- we should have had a strong recovery instead," Forbes said.
He also added, “The speed of economic growth in India has proved that the country is able to ride out the crisis well - but the government would have to work to make the economy grow further”.
"India should continue the liberalization that began in 1991, including simplifying the tax code and reducing tax rates, and allowing more overseas investments into India," he said.
While it would take decades for India to become a competitor to the US but it had the capacity to become a global leader in areas such as technology services.
He said that the companies such as Tata Consultancy Services, India's top software exporter and its smaller rival Wipro were already undertaking complex software projects.
After the Indian government has opened up the media sector to the foreign investment, several overseas publications, including Forbes have made their entry into the country. The Indian edition of Forbes was launched earlier this year in a joint venture with the Network18 group, which also runs business news channel CNBC TV18.
Forbes said he was encouraged by the positive response in India.
0 comments:
Post a Comment