Govt urged to set up Rs 500-cr tech entrepreneurship fund
HYDERABAD: The National Association of Software and Services Companies (Nascom) has asked the Government to set up a Rs 500-crore technology entrepreneurship fund to attract investments. Nasscom President R Chandrasekhar has also called for globally benchmarked policies for taxation and regulation. Addressing reporters here on Friday, he said traditionally, such a funding model was prevalent in developed countries. One of the largest growth areas is social media, mobility, analytics and cloud. They are growing at twice the rate of growth of the industry in general, he added.
As per estimates, the IT-ITeS industry is expected to grow at 13 per cent to 15 per cent during the current fiscal. On the other hand the $32-billion domestic market is likely to grow between 9 and 12 per cent this fiscal.