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G.O Issued To Support SMEs In IT Sector

Posted by on February 10, 2011 0 Comment

Hyderabad, Feb.10 (NSS): The IT Department secretary Ms Ratna Prabha has said that the State government has issued a special GO to support the Small and Medium Enterpreneurs (SME) in IT sector and also the government would be entering with a MoU with Israel very soon. She said that the State was the first one to take such an initiative in the country by bringing the GO.

Addressing the gathering at INDIASOFT-2011, ESC curtain Raisor programme held here on Wednesday night, Ms Ratna Prabha said that the GO would facilitate the SMEs to participate in smaller contracts and they will be given 10 percent subcontract from the bigger companies and big contracts. She said that they categorized the contracts into two –one is Rs.2crores to 5 crores and the other Rs.5Crores to 10 Crores. More than Rs.10 crores be treated as big contracts and the SMEs would be given 10 percent of the total contract gained by the bigger Companies.

She said that the State government was entering into an agreement with Israel very soon to get the support from it to SMEs here in the fields of venture capital and market support. She further said that the State government and Israel were investing Rs.10 crore each to encourage the SMEs here. She said that the government was ready to give subsidies to theses SMEs in many ways.

She said that events like INDIASOFT-2011 to be held at Pune, Maharastra, on March 25 and 26, will boost the SMEs.

INDIASOFT-2011, ESC executive director Dr K Sareen said that around 350 software companies and services buyers from over 75 countries, besides a host of renowned Indian companies, at this business-to-business partnering forum, are expected to participate in the international IT Exhibition and Conference. The Ministry of Communications and Information Technology and Ministry of Commerce and Industry, Government of India, were sponsoring the event. He said that business delegates from USA, UK, Europe, Middle East, Japan, China, Korea, Latin America, Africa, CIS, ASEAN region are participating in the event.

He said that the event seeks to improve the visibility of Indian Software industry especially, the SMEs and the start-up companies in the global IT market. The focus would be on business services, e security, finance, banking, insurance, manufacturing education and training, embedded software, animation, packaged software, and many more innovative technologies. Several IT entrepreneurs would use INDIASOFT-2011 as a platform to launch innovative IT products and services, he said.

INDIASOFT-2011 organising secretary Mr Nalin Koli said that the event would concentrate on two issues; one is to diversify the market in the countries of Africa and ASEAN like who were looking at the India and the second one is to concentrate on to exports of the software technologies and other. He said that the purpose of organizing the INDIASOFT-2011 Curtian Raisor was to welcome the Hyderabad based IT Companies to participate in the event in a big way. (NSS)

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