Internet and digital economy challenges for Narendra Modi

CyberMedia is organizing a close-door round table with Gujarat chief minister, Narendra Modi to brief BJP’s PM candidate about Internet and digital economy challenges faced by the industry.

Narendra Modi is addressing 400 CEOs in New Delhi and is also the chief guest at Cybermedia ICT Awards, a prestigious award which aims at recognizing and encouraging leaders who have built the Indian ICT Industry.

The Internet has massive potential for economic impact and contributions to India’s GDP. The Internet contributes 1.6 percent to the country’s GDP and is expected to grow to a significant 3.3 percent by 2015.

The Internet and Digital Economy industry has put forward a whole list of challenges which will be given to Narendra Modi, BJP’s PM candidate for 2014 elections which include: IT Act; FDI Policy; and Internet Governance.

1. Creating an open Internet policy framework: An open Internet policy framework encourages innovation and growth. On the other hand, inappropriate or excessive regulation could harm a nascent industry before it can realize its social and economic potential.

2. Relaxing the FDI policy for e-commerce: There is need to enable FDI in B2C e-commerce in line with the policy for B2B e-commerce. For this, the Government may consider defining e-commerce in line with the OECD definition, to include various aspects and notify FDI policy accordingly for the B2C model. Service tax holidays for service businesses and export income be exempted from tax.

3. Reforming the IT Act: The Indian government, which can directly amend these rules without parliamentary approval, must carry out its past promises to reform these regulations in consultation with the Internet industry.

CEO’s participating in the closed door meeting include: Cisco (Jeff White); Google (Rajan Anandan); IBM (Shanker Annaswamy); NII (Kiran Karnik); Tech Mahindra (CP Gurnani); Nokia (P Balaji); Airtel (Akhil Gupta); COAI (Rajan Mathews); Alcatel-Lucent (Munish Seth); Dell (Alok Ohrie); Galgotia University (Dhruv Galgotia and Suneel Galgotia); HP (Neelam Dhawan); Indus Towers (Shantha Raju); PVG Menon (IESA); Rajesh Janey (EMC); Rajiv Srivastava (MAIT); Alok Bharadwaj (Canon); Reliance ADA (Gurdeep Singh); Sagitaur Ventures (BV Naidu); Samsung (Vineet Taneja); SAP (Suprakash Chaudhuri); Smart Link (KR Naik); STPI (Omkar Rai); TEMA (NK Goyal); Videocon (Raj Kumar Dhoot and Arvind Bali); and Vodafone (Sunil Sood).

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