Thursday, June 12, 2003

IN case ur wondering what all this is...its jus the basics of delivering a company in "india inc "
The first entrepeneaurship cell in any college has been setup in Sri Venkateswara College of Engineering,chennai recetly. check for more information
IT Act 2000 in India

The Information Technology Act, 2000 (No. 21 of 2000)

An Act to provide legal recognition for transactions carried out by means of electronic data interchange and other means of electronic communication, commonly referred to as "electronic commerce", which involve the use of alternatives to paper-based methods of communication and storage of information, to facilitate electronic filing of documents with the Government agencies and further to amend the Indian Penal Code, the Indian Evidence Act, 1872, the Bankers' Books Evidence Act, 1891 and the Reserve Bank of India Act, 1934 and for matters connected therewith or incidental thereto.

whereas the General Assembly of the United Nations by resolution A/RES/51/162, dated the 30th January, 1997 has adopted the Model Law on Electronic Commerce adopted by the United Nations Commission on International Trade Law;

and whereas the said resolution recommends inter alia that all States give favourable consideration to the said Model Law when they enact or revise their laws, in view of the need for uniformity of the law applicable to alternatives to paper-cased methods of communication and storage of information; and whereas it is considered necessary to give effect to the said resolution and to promote efficient delivery of Government services by means of reliable electronic records. be it enacted by Parliament in the Fifty-first Year of the Republic of India as follows:-
Posted by Bhasker vk on 09:00 AM


Nasscom 2003 will be held at Hotel Oberoi, in Mumbai from 11 - 14 February 2003. The theme for this year's conference is "Leveraging Knowledge Capital for Enabling Growth". In keeping with this objective, eminent Industry leaders from the IT vendor and user community will share insights, strategies, opportunities and imperatives for companies to make most of their IT investments.

Nasscom 2003 is being organized with an objective to make it into India's biggest and Asia's leading B2B conference. Positioning the annual IT event - NASSCOM 2003 as a pure B2B focused customer conference.

NASSCOM has invited global CIO's to participate in NASSCOM 2003 to share their strategies and list out opportunities and imperatives for Indian companies and also provide a perspective of what customers are looking for. To have maximum participation of the CIOs from the Fortune 500 who are the probable customers for the Indian players, NASSCOM has entered into a direct mailing campaign to more that 3000 companies in US and Europe which includes invite to a large number of CIO's from Fortune 500 companies to participate. The exercise was initiated a month back. Among them include CIO of Johnsons Controls, a global market leader in automotive systems and facility management and control.

NASSCOM is inviting international delegations from across the globe including companies from USA, Europe, Asia Pacific, Canada, and West Asia etc

Special features
Attended by more than 900 Delegates
More than 100 National and International speakers
3 parallel tracks with a total of19 sessions
Country Forum
Special BPO Track
Focus on telecom, manufacturing, semiconductor technology, and embedded software and emerging verticals including transportations, healthcare, retail.

For more details contact a Nasscom Representative at
Doing Business in India

Setting up IT Software and services operations in India

General Indian Citizen / Company
Overseas Company
Liaison Office/Representative Office
Project Office
Branch Office
As an Indian Company
Joint Venture with an Indian partner
Wholly Owned subsidiary

General Indian Citizen / Company

An individual and citizen of India can set up I.T. software and services operations in India through the following:
as an Individual / Proprietor
as a Partnership / Firm / Trust
as a Company registered under the Companies Act, 1956
No prior permission of Government of India is required to set up I.T. / Software units in India. Moreover, to encourage units in this sector, Government of India has announced

Domestic Tariff Area: When the primary focus is to sell in the domestic market in India. This unit can be set anywhere in India. All normal laws apply. No concession is available on import duties. Exports are permitted. A special Export Promotion Capital Goods (EPCG) scheme of Ministry of Commerce can be availed. This scheme allows zero duty import of capital goods against export obligations.

Special Economic Zones (SEZs). SEZ is a new scheme announced by the Government of India. SEZs are areas where export production can take place free from plethora of rules, regulations governing imports and exports. Units operating in these zones have full flexibility of operations and can import capital goods and raw material duty free. The movement of goods from and to ports and from SEZ are unrestricted. The units in SEZ have to export the entire production. The first two SEZs are being set up at Positra, Gujarat and Nangunery, Tamilnadu. Immediately, Santacruz Electronic Export Promotion Zone, Kandla Export Promotion Zone, Vizag Export Promotion Zone and Cochin Export Promotion Zones are proposed to be converted in SEZs.

Export Processing Zones (EPZ). These zones are located at various places including Cochin, Falta (Near Calcutta), Kandla, Chennai, Noida, Santacruz (Mumbai), Vishakhapatnam and Surat. A unit can be set up in these zones subject to availability of space. No import duty, special 10 years income tax holiday are some of the incentives provided. There is no restriction on quantity of domestic sales.

100% Export Oriented Unit (EOU). This is similar to EPZ scheme. But in this scheme, there is no need to be physically located at EPZ. All other incentives are same as provided to EPZ units.

Software Technology Park (STP). A very special scheme under Ministry of Information Technology. STPs are located at Noida, Navi Mumbai, Pune, Gandhinagar, Hyderabad, Bangalore, Chennai, Bhubaneshwar, Jaipur, Mohali and Thiruvanathapuram. This scheme offers zero import duty on import of all capital goods, special 10 years income tax holiday, availability of infrastructural facilities like high speed data- communication links etc. are some of the incentives available under this scheme.