Latest news with #ITeS
Time of India
27-05-2025
- Business
- Time of India
Tumakuru woos Bengaluru's tech companies with ready office space
Bengaluru: Bengaluru over-saturated? Relocate to Tumakuru. Neighbouring Tumakuru City — 60km from tech capital by road — has made a strong pitch offering ready-to-occupy space for Bengaluru-based Information Technology (IT) and Information Technology-Enabled Services (ITeS) companies to shift en bloc or set up branches. To start with, Tumakuru district administration has started collecting data on the number of IT professionals who daily commute from Tumakuru to Bengaluru. On Monday, Tumakuru administration posted a datasheet on social-media platforms with an appeal to techies to mention the names of companies they work for and the frequency of travel between two cities. The district administration has received overwhelming support from techies. "In less than two days of posting on 'X', we received details about 150 various IT companies operating in different parts of Bengaluru. We will discuss this with the IT department director Rahul SS and reach out to these companies via emails. If any company is interested in shifting or starting operations in Tumakuru, they can reach out to us directly," Tumakuru deputy commissioner Subha Kalyan said. On the rationale behind collecting details, the DC said the plan was to urge these companies to set up branches or completely shift operations to Tumakuru. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trade Bitcoin & Ethereum – No Wallet Needed! IC Markets Start Now Undo "As per estimates, over 5,000 techies from Tumakuru travel to Bengaluru daily. This could be more. Hence, we decided to have an open house for collecting data and formally reach out to those companies," Subha said. Meticulous planning has gone into this shift-to-Tumakuru plan. "We discussed this plan in detail with IT secretary Ekroop Caur and Sanjeev Gupta, CEO of Karnataka Digital Economy Mission, also visited the city and inspected the availability of infrastructure. Tumakuru has prospects of hosting software companies and IT industries. Accessing the Kempegowda International Airport from Tumakuru is easier with dedicated roads cutting through the hinterland. Suiting the needs of IT companies that look out for plug-and-play or coworking space, kind of office space, we have ready infrastructure at the heart of the city," Subha said. The DC said work on phases 4, 5, and 6 of the industrial township at Vasanthanarasapura on the outskirts of Tumakuru city is nearing completion and has ample provision to accommodate software and IT industries. Subha highlighted the perks that await the companies on shifting to Tumakuru: Companies can save on monthly rentals, transportation, and other expenditures.
Business Recorder
21-05-2025
- Business
- Business Recorder
Pakistan's IT, ITeS sector: P@SHA underscores need for consistent tax policy
ISLAMABAD: The Pakistan Software Houses Association (P@SHA) has strongly recommended a consistent tax policy with no changes in the tax structure of IT and IT-enabled Services (ITeS) sector in the Federal Budget 2025-26. Addressing at a press conference here on Tuesday, Sajjad Mustafa Syed, Chairman P@SHA stated that the government must ensure policy stability and tax clarity for the IT and IT-enabled Services (ITeS) sector in 2025–26. As a cornerstone of Pakistan's digital economy, the IT industry has demonstrated resilience amid economic turbulence, contributing USD 3.2 billion in exports in 2023–24, and is projected to close the current fiscal year at nearly USD 4 billion. Forecasts estimate a USD 15 billion export potential by 2030. Despite these promising numbers, policy inconsistency, ad hoc taxation, and operational challenges continue to undermine investor confidence and economic contributions, he regretted. Policy stability is essential for sustaining the momentum we've recently achieved. The recent DFDI event alone resulted in over USD 700 million in investment commitments — of which USD 600 million was facilitated by P@SHA, he said. Frequent changes in tax laws — whether related to export incentives, withholding taxes, or other fiscal instruments — discourage long-term investment. The lack of predictability threatens to undo the combined efforts of public and private sector stakeholders, including MOITT, PSEB, SIFC, and TDAP. If investor confidence is shaken, Pakistan risks forfeiting years of progress, including advances in branding, skill development, and digital infrastructure, he added. 'We are not asking for exemptions that jeopardize international obligations. However, if our practical, fair recommendations are implemented in both letter and spirit, Pakistan's IT sector can contribute substantially more to national growth,' Sajjad said. He recommended there is a critical need to align tax treatment between employees of IT firms and independent remote workers. The P@SHA urged the government to formally define remote workers in the Income Tax Ordinance (2001). The proposed classification applies to individuals earning over Rs 2.5 million annually through foreign remittances or working with fewer than three international clients, taxing them similarly to salaried individuals. This recommendation aims to expand the tax base while leveling the playing field. The current disparity creates an uneven labor market where it's more cost-effective for global companies to hire Pakistani talent directly rather than through local firms. As a result, local IT businesses lose both competitiveness and valuable export revenue. A clear and fair framework will bring transparency for taxpayers and authorities alike and help protect Pakistan's economic interests. IT firms, especially call centres and BPOs, operate on narrow margins, have service level agreements and cannot afford such disruptions. Legislation must be enacted to shield them from outdated and misaligned labor regulations. Until reforms are complete, temporary exemptions must be provided to IT companies from EOBI and other arcane labor laws. Despite being one of the region's lowest revenue-per-employee markets, Pakistan's IT sector employs a massive formal workforce of over 600,000. The sector's resilience is remarkable, bearing some of the highest input costs, yet continuing to grow. Copyright Business Recorder, 2025
Business Recorder
21-05-2025
- Business
- Business Recorder
IT, ITeS sector: P@SHA underscores need for consistent tax policy
ISLAMABAD: The Pakistan Software Houses Association (P@SHA) has strongly recommended a consistent tax policy with no changes in the tax structure of IT and IT-enabled Services (ITeS) sector in the Federal Budget 2025-26. Addressing at a press conference here on Tuesday, Sajjad Mustafa Syed, Chairman P@SHA stated that the government must ensure policy stability and tax clarity for the IT and IT-enabled Services (ITeS) sector in 2025–26. As a cornerstone of Pakistan's digital economy, the IT industry has demonstrated resilience amid economic turbulence, contributing USD 3.2 billion in exports in 2023–24, and is projected to close the current fiscal year at nearly USD 4 billion. Forecasts estimate a USD 15 billion export potential by 2030. Despite these promising numbers, policy inconsistency, ad hoc taxation, and operational challenges continue to undermine investor confidence and economic contributions, he regretted. Policy stability is essential for sustaining the momentum we've recently achieved. The recent DFDI event alone resulted in over USD 700 million in investment commitments — of which USD 600 million was facilitated by P@SHA, he said. Frequent changes in tax laws — whether related to export incentives, withholding taxes, or other fiscal instruments — discourage long-term investment. The lack of predictability threatens to undo the combined efforts of public and private sector stakeholders, including MOITT, PSEB, SIFC, and TDAP. If investor confidence is shaken, Pakistan risks forfeiting years of progress, including advances in branding, skill development, and digital infrastructure, he added. 'We are not asking for exemptions that jeopardize international obligations. However, if our practical, fair recommendations are implemented in both letter and spirit, Pakistan's IT sector can contribute substantially more to national growth,' Sajjad said. He recommended there is a critical need to align tax treatment between employees of IT firms and independent remote workers. The P@SHA urged the government to formally define remote workers in the Income Tax Ordinance (2001). The proposed classification applies to individuals earning over Rs 2.5 million annually through foreign remittances or working with fewer than three international clients, taxing them similarly to salaried individuals. This recommendation aims to expand the tax base while leveling the playing field. The current disparity creates an uneven labor market where it's more cost-effective for global companies to hire Pakistani talent directly rather than through local firms. As a result, local IT businesses lose both competitiveness and valuable export revenue. A clear and fair framework will bring transparency for taxpayers and authorities alike and help protect Pakistan's economic interests. IT firms, especially call centres and BPOs, operate on narrow margins, have service level agreements and cannot afford such disruptions. Legislation must be enacted to shield them from outdated and misaligned labor regulations. Until reforms are complete, temporary exemptions must be provided to IT companies from EOBI and other arcane labor laws. Despite being one of the region's lowest revenue-per-employee markets, Pakistan's IT sector employs a massive formal workforce of over 600,000. The sector's resilience is remarkable, bearing some of the highest input costs, yet continuing to grow. Copyright Business Recorder, 2025
News18
14-05-2025
- Health
- News18
'Never Had A Son, But I Lost One': BJP Leader Dilip Ghosh Mourns Stepson's Sudden Death
Last Updated: Srinjoy was the son of Ghosh's wife, Rinku Majumdar, from her first marriage. Ghosh and Majumdar were married just last month West Bengal BJP leader Dilip Ghosh has spoken for the first time about the death of his 26-year-old stepson, who was found dead in his Kolkata flat on Tuesday morning. Ghosh, former BJP National Vice-President and ex-president of the party's West Bengal unit, expressed sorrow over the death of his 26-year-old stepson, Srinjoy Dasgupta. Srinjoy was the son of Ghosh's wife, Rinku Majumdar, from her first marriage. Ghosh and Majumdar were married just last month. Describing Srinjoy as a 'lively boy," Ghosh said they had developed a close bond in a short span of time, NDTV reported. 'It's my bad luck. I am so unfortunate. I never experienced the joy of having a son, but I am mourning the loss of one," the BJP leader added. Srinjoy's body was found lying on his back at his residential flat in New Town, Kolkata. The initial post-mortem, conducted at RG Kar Medical College and Hospital, suggested that he may have died of acute haemorrhagic pancreatitis. Acute haemorrhagic pancreatitis is a severe condition where the pancreas becomes inflamed and starts to bleed, often due to the early activation of digestive enzymes. This leads to damage in surrounding tissues and blood vessels. However, a final conclusion will only be drawn after the detailed post-mortem report is completed. Srinjoy worked at an IT-enabled services (ITeS) firm and was posted at Sector 5 in Salt Lake, not far from his home. Speaking to the media, his mother Rinku said, 'He had two colleagues with him last night. He hadn't been feeling well for the past 3 to 4 days. Although he never said it directly, I could understand he wanted to stay with us. I told him he could stay, even though we have a room shortage—I was planning to make arrangements for him." Dilip Ghosh's step son Srijan's dead body was recovered today from his flat . This is what Dilip Ghosh's wife Rinku said'He had two colleagues with him last night. He hadn't been feeling well for the past 3 to 4 days. Although he never said it directly, I could understand he… — Kamalika Sengupta (@KamalikaSengupt) May 13, 2025 'His colleagues told me that he used to say, 'You can go home and see your parents, but I can't.' He came over on Mother's Day. We last spoke around midnight," she added. First Published: May 14, 2025, 16:16 IST
