Union Budget: ‘Strong expectations on clarity for transfer pricing in IT sector’
“I hope something more substantial is set aside towards ITIR and also the Pharma city. We (Hyderabad) are positioned very well for the Make-in-India initiative given we have a strong defense/aerospace presence and also pharma/life sciences. I believe some incentives to boost these segments and local manufacturing would help the city and state.
From the IT Industry perspective the long elusive transfer pricing clarity is one serious expectation from this budget. The various skill development initiatives getting to a mainstream operational mode is another expectation. For the Startup ecosystem, clarity in operationalising the 10K Cr startup fund will be great. The implementation will boost growth thereby enabling startups.
More specific policy support that incentivize and support incubators will be a major boost to early stage ecosystem. Moreover, Programs/initiatives to seed the startup thought and initial idea prototypes in colleges; is necessary. A substantial mindset altering initiative will be very helpful in getting more graduates to think about starting up and making in India.”
