However, to realise that dream, the government must consider updating the key policies for establishing technology parks and attracting foreign investment into the ICT and infrastructure sector. Ministers must ensure liberal laws, giving tax and non-tax incentives to investors so they can work effectively and swiftly with the Government to deliver this new future. Currently, several existing tax provisions exert additional burdens on the industry that not only require a thorough review but also need complete revamping in few cases. As a newcomer in the Indian telecoms market, we would seek efficient policy changes, coupled with effective implementation to sustain and promote growth so that companies like ours can partner with the Government in connecting rural areas with high-speed internet networks.
The vision of ‘Make in India’ relies heavily on SMBs. ICT can help Indian SMBs address the challenges of global competition and a volatile business environment. The growing adoption of smartphone apps that enable VoIP calling, instant messaging, navigation and tracking etc., have opened new business opportunities for SMBs in India. Technologies like VoIP, IP PBX, virtual office, virtual meeting and video conferencing are redefining SMB businesses by bringing significant savings in telecommunications costs and improving operational efficiency. With the support of these technologies, Indian SMBs will be in a position to truly compete with global competitors.
Meanwhile, smartphone applications that improve mobility and workforce productivity are driving mobility (BYOD) among businesses. Organisations are increasingly turning to these applications as they also help them reduce the cost of hardware, support, maintenance and telecommunication costs. Therefore, the Government should try and relax foreign investment policies so that India’s technology can advance at the rate needed by both SMBs and larger corporations.