Budget Reaction:iSPIRT

iSPIRT congratulates the finance minister on a thoughtful maiden budget. The budget establishes the Government’s special focus on the Software Product Industry (SPI). The Government has embraced iSPIRT’s view that the SPI can transform India. In fact, the setting up of a Rs 10,000 crore fund of funds to catalyse start-ups in the
MSME sector fits very well with iSPIRT’s efforts to improve competitiveness among the Indian SME’s. We are also happy that the Government has recognized the need for a framework to be set up for resolving tax related issues.

SPI is an enabler for many other industries like Defense, Electronics and Communications. Naturally, a healthy software product industry brings endless possibilities to the country prime among them employment. The creation
of 100,000 Software Product Companies in India will lead to the creation of $500+ bn in market value in a decade and the upliftment of more than 30 mn SMEs.

 --Bharat Goenka, Tally Solutions and co-founder, iSPIRT