JOIN USUS must invest more to create jobs, says Nasscom
Speaking on the sidelines of Nasscom summit, Mittal said “we do not know what is coming up next, in what form and shape. The recent statement by Obama says for more investment in R&D to create jobs. When the US had a downturn, it affected us also. If the US takes more positive action and make positive moves it will help all in future.”
Mittal said the industry expects to hear more noise on the issue in view of the forthcoming elections to the US Senate and House of Representatives, but “we do not know in what form or shape it would be”. It was also not necessary that it would all be targetted at India.
He said this would be a “win-win situation not only for Indian service providers, but for everyone”. At present, one has to apply to individual EU countries separately for a visa. If a single visa was allowed, it could simplify things and reduce costs, not only in terms of application and processing fees, but also in travel planning and efficient use of people. Such move might take a year’s time given the fact that all the EU countries had to agree to it, he added.
When asked about the recent discussion on visa issues with the European Union, he said, “We have produced a white paper in this regard and College of Commission of the EU has approved it. Now, it will take at least one year to get approval from all the 27 EU states.”
Further he said, “Outsourcing is a win-win situation for all the countries not only for Indian companies. Once the single visa system is allowed, it could simplify things and reduce costs, not only in terms of application and processing fees, but also in travel planning and efficient use of people. It is at the early stages and there are concerns regarding this. We are confident that the hurdles would be cleared soon.” On STPI sops, he said government has extended tax concession for one year which will end by 2011 March.