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November 4, 1999
McKinsey report on software industry almost ready
Global consultants McKinsey's will submit by mid-December a report on ways to strengthen the Indian software industry. The National Association of Software and Service Companies had called for the report.
The report is expected to give suggestions to the government, software companies and associations on how to sustain and improve the over 50 per cent annual sectorial growth.
"It will give recommendations to even small and medium sized companies to move up the value chain in the industry," Mehta says.
It will enable companies who have not yet taken adequate transition steps from Y2K related services to keep up their own growth rates.
Meanwhile, NASSCOM has asked the government to improve privacy laws in the country by suitably amending the Copyright Act.
It will help the industry get data processing projects from the European Union.
The EU recently brought out a directive for European companies that they should not outsource from those countries where privacy laws are absent.
Currently, data processing project revenues comprise about 10 per cent of software exports.
Mehta says no Indian IT company is expected to list at any of the overseas stock exchanges before January 2000 as "sentiments are not great due to Y2K fears".
However, NASSCOM expects at least 20 more Indian infotech companies to be listed on overseas stock exchanges in the next 36 months.
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