We are precisely at that moment in time, when information overload makes it very difficult to distinguish between what is truly headline grabbing news, and what isn’t. However, the decision of the RBI Governor and Brexit were both discussions that created uncertainty and were much written about.
The Indian IT BPM industry, naturally cannot be expected to remain insulated from Brexit, but a robust foundation and a unique talent base puts us in a relatively strong position, despite global turmoil. At the time of the Prime Minister’s visit to US, our leadership team and I visited Washington DC, and the sheer excitement among the people was palpable. It reinforced our belief that the rest of the world felt extremely positive about the Indian economy in general, and the IT BPM industry in particular.
Closer home, at NASSCOM, the fourth edition of the Big Data & Analytics Summit unfolded quite incredibly. Among our flagship events, this one is seen to be growing phenomenally, both in terms of participation and the quality of speakers that it is able to attract. Themed on “Rise of Algorithms and AI : Complexity to Competitive Advantage”, it witnessed more than 850 delegates over two days, who got to listen to 35 speakers from across the globe. It quelled all doubts (if any) that there is a very strong business case for using Analytics. Thinking otherwise can lead to a missed opportunity and eventual erosion of competitive advantage.
It is also noteworthy that the Ministry of Finance released the Model GST Law for public comments, which also provides an overview of the law and its accompanying clarifications. The Central GST (CGST) will be framed based on the model GST law. We are in the process of consulting with members, with an overall objective to compile and represent concerns of IT and ecommerce industry to the government. Prima facie, there appear to be serious concerns from an IT services perspective with a huge increase in compliance burden. We are taking these issues up with both FM and the Chairman of the Empowered Committee of State Finance Ministers (WB FM)
The first edition of the TechNgage program also saw through a successful completion. The initiative as you would know is about identifying top tech talent and celebrating success through a competitive filtering mechanism. We received a total of 18280 registrations, submitted by 479 teams, of which, 268 were shortlisted. These rounds were held in the cities of Delhi NCR, Kolkata, Pune, Hyderabad, Bangalore & Chennai. This platform provides an opportunity to the tech brains of our country to showcase their skills, and for us to ensure that this community proliferates to deliver on cutting edge technology.
The Monthly Mailer for June is attached for your reference, and I look forward to hearing your feedback and suggestions.