Union Budget Failed to Protect Interest of local IT Manufacturing: MAIT

TechnoparkToday>>New Delhi :  Manufacturers’ Association for Information Technology (MAIT), the apex body actively representing ICT Manufacturing, Training, IT, Design, R&D and associated services sector has expressed its disappointment with the Union Budget 2013, saying that it has failed to protect the interest of local IT manufacturing in the country.

Commenting on the Budget 2013, J V Ramamurthy, President, MAIT said, “Though the Government has announced the National Manufacturing Policy that aims to increase the share of manufacturing in GDP to 25% within a decade, the budget has failed to reverse the inverted tax structure which has been impacting the industry for years now, making India a predominantly import dependent country.”

Reacting on the Budget, Mr. Amar Babu, Vice-President, and MAIT said that, “The key positive aspect was that the Government has aimed to enhance the ESDM industry by providing appropriate incentives for semiconductor industry, including zero customs duty on plants and machineries for setting up wafer fabs units in India, but it does fail to correct the inverted tax structure anomaly.”

Set up in 1982 for purposes of scientific, educational and IT Industry promotion, MAIT has emerged as an effective, influential and dynamic organisation in these 30 years.  Representing Hardware, Training, R&D & Hardware Design and other associated service segments of the Indian IT Industry, MAIT’s charter is to develop a globally competitive Indian IT Industry, promote the usage of IT in India, strengthen the role of IT in national economic development, promote business through international alliances, promote quality consciousness in the IT Industry and transform the Indian IT Industry into a World Scale Industry leading to a World Class Usage and thus a World Size Market.