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This story is from September 25, 2007
Indian IT industry a pampered lot, says Nath
While the industry has seen the move coming, the minister's remarks set the cat among the pigeons.
Nath was responding to a question asked by a delegate at the conference on how the Indian IT businesses will evolve post 2009 when the tax breaks the industry currently enjoys are withdrawn.
"Every other business is blaming the government for discriminating in favour of the IT business," he said.
"The pharmaceuticals business is now asking for tax breaks on the lines of what IT currently enjoys," he said. "Therefore, the government cannot be seen as favouring one business against another," he pointed out. "But we are also examining what can be done to protect the interests of the IT business."
While the industry has seen the move coming and Nasscom, a body that represents the industry has been lobbying for an extension of tax holiday by another 10 years, the minister’s remarks set the cat among the pigeons. Said Ramalinga Raju, chairman, Satyam Computer, "Chinese government fights tooth and nail to protect businesses from competition. In our case, it’s only been 10 years since the business has come into its own and we need some more time to ground ourselves before tax holidays are withdrawn."
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