IT-BPM sector accounts for the largest share in total Indian services export (45%).
IT-BPM sector accounts for 56% of the total global outsourcing market.
640 offshore development centres in more than 80 countries.
Indian IT & BPM industry is expected to grow to USD 300 billion by 2020.
IT-BPM sector constitutes ~ 9.3% of India's GDP.
IT-BPM is the largest private-sector employer - delivering 3.7 million jobs.
PROVISIONS OF THE 2015-2016 UNION BUDGET:
The tax rate on royalty and fee for technical service payable to non-residents has been reduced from 25% to 10%.
The National Optical Fibre Network Programme (NOFNP) to be further speeded up by allowing willing states to execute on reimbursement of cost basis as determined by the Department of Telecom.
Supporting technology-driven start-ups - Creating of innovation Promotion Platform and Techno-financial and facilitation support scheme
Self-Employment and Talent Utilization (SETU) to establish as techno-financial, incubation and facilitation programme to support all aspects of a start-up business.
Transfer Pricing - Increase in Domestic Transfer pricing threshold from USD 769,230 to USD 3.07 million.
Reduction in the tax rate on Royalty and Fees from Technical services from 25% to 10%
CENVAT credit time limit for availing increased from 6 months to 1 year.
General Anti-Avoidance Rule (GAAR) deferred by another two years and will be implied prospectively.
2 days’ time for service tax/ excise duty registration; electronic filing including a digital signature.
Micro Units Development Refinance Agency (MUDRA) Bank, with a corpus of USD 3.07 billion, and credit guarantee corpus of USD 461.53 million aiming to infuse funding among the new generation entrepreneurs.
The setting up of IT services, BPM, software product companies, shared service centres.
Fast-growing sectors within the BPM domain – knowledge services, data analytics, legal services, Business Process as a Service (BPaaS), cloud-based services.
IT Services and fast-growing sectors within it such as solutions and services around SMAC, IS outsourcing, IT consulting, software testing.
Engineering and R&D within which the fastest growing sectors are – telecom & semiconductors.