Nasscom wants India to protect its own interest on ITA
Nasscom said there was a need to protect the country’s interests in services and technology even as WTO members ratified the need to change the 18-year old Information Technology Agreement (ITA).
“These trade agreements give access to India’s market to companies globally. So the question is what we are getting in return and whether our services are getting the reciprocal access,” Nasscom President R Chandrasekhar said on the sidelines of a Retail Summit organized by Indian Chamber of Commerce (ICC) here.
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According to him, restrictions and constraints are coming up outside the trade agreements like movement of technically skilled persons, or even the movement of data.
India is yet to be a signatory to the new ITA.
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“What is happening in trade is happening, but restrictions are coming up outside the trade agreements. I think it is important that we need to ensure that protect our interests in service and technology even as these global trade agreements are reached,” he added.
The agreement is to update the WTO’s ITA that adds more than 200 products to the list of goods covered by zero tariff and duty free trade.
Some of the duty free products include computer software and software media, video game console, printer ink catridges, GPS and medical devices among others.
Chandrashekhar also said the Indian information technology sector was expected to log six per cent growth in its hiring rate.
The current employee strength in the sector is around 3.5 million.
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