Obama's visit to India this year looks very promising for more private sector partnerships and technology exchange expectations between the two countries. Navigating through its mature stage, Indian IT sector is facing lots of external issues related to visa concerns, set up subsidiary, cloud, consumerisation to name a few, so it speculates some good business opportunities to flow in this year or for times to come. “Ease of doing business” is what I or any entrepreneur would expect from government’s new regulatory frame work.
Since IT sector has played an important role in transforming India’s image to the world, from slow moving bureaucratic economy to land of smart working professionals and innovative entrepreneurs, government needs to leverage this strength at world stage. Prime Minister Modi’s “Make in India” drive and upcoming industrialization policies are an apparent hope for scope in this direction.
With the opportunities flowing in, the IT sector also needs to be all ready and geared up to flow with these opportunities. They should be ready to face competition with international companies. I expect that with defense sector opening up for foreign manufacturers with Make in India drive, many world class manufacturing facilities will come up in the near future. Civil nuclear deal is another important factor that will trigger growth due to additional power generation.
On the other hand Obama is equally worried about the impact of outsourcing on their domestic jobs, he is still cautious in publically acknowledging India’s request for opening up more H1B Visas. NASSCOM has tried to lobby for getting an agreement with the US government to hold a discussion on the elements required in both countries to pursue an India-US Totalisation agreement. I personally believe that it will not happen so easily. Intellectual property a long-standing sticking-point between the US and India, figured in the list of bilateral priorities especially piracy of films and software. India and US issued joint statement looking forward “to enhancing engagement on Intellectual Property Rights (IPR) in 2015 under the High Level Working Group on Intellectual Property, to the mutual benefit of both the countries”.
It seems suddenly whole world wants to setup their shops in India and it has become top agenda of many foreign companies to focus on India. Adding more fun to this festival of sudden rush of foreign investors, I hope that Indian software industry will start showing maturity and might also change mindset of Indian companies to invest on technology. I know sooner or later Indian domestic requirement for software products will increase many folds making India one of the leading software product nations.