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Indian software industry turnover hits Rs 100 b

The Indian software industry expects to have achieved a turnover of Rs 100 billion in the fiscal year that ended March 31, 1998.

The figure was provided by Dewang Mehta, executive director of the National Association of Software and Service Companies when speaking at PC Quest Compass 98, an exhibition organised by the Computer Association of Eastern India in Calcutta.

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He said that of the Rs 100 billion, Rs 64 billion would be accounted for by exports.

Mehta called for the removal of sales tax on IT products in all states, saying that since India has already signed an international agreement to remove duty on IT products, there was no reason for such barriers between Indian states either. He said eastern India had the potential of becoming a major software power base.

He also called for a central department on IT and that the government consider providing finance to software professional, who often had no collateral to offer.

-Compiled from the Indian media

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