Background: The workshop was conducted by Export Import Bank of India at Bangalore, on June 1, 2001. The objectives of this workshop were to create awareness on the slow down in US economy and to educate them to explore possibilities of European markets as alternate destinations. The workshop gave a practical step-by-step guidance to the participants on doing IT exports to European markets.
Faculty: Mr. Nagaraj Rao, Regional head, Electronics and Computer Software Export Promotion Council, Bangalore; Mr. Ashok Kumar Anchalia, Senior Advisor, Surana & Surana, Chennai; Mr. Padam Chand Kincha, Partner, Kincha, Keriwal & Co, Bangalore; Mr. K. Kothanda Raman, Senior Manager, KPMG, Bangalore; Mr. Sajan Poovayya, Partner, Poovayya & Co, Bangalore; and Mr. Vijayakrishnan, Senior Consultant, Surana & Surana, Chennai addressed the workshop.
Target Sectors: The workshop was oriented towards targeting the sectors like IT, software and service companies.
Summary of Proceedings: Mr. Nagaraja Rao made a presentation on the overview of Indian IT industry. It was indicated that USA is the largest single market for software exports. However, it is not good to depend on one single market, but to diversify the markets. Mr. Rao also said Europe has huge potential for Indian IT exports which could be tapped in view of slow down in USA.
Mr. Ashok Kumar Anchalia made a presentation on immigration and incorporation of a company in Europe. Mr. Anchalia made the focus of his presentation on UK, which is similar to many other European countries. Mr. Anchalia, in his presentation explained the participants on different forms of company in UK, as well as in Europe, and policies & procedures for forming of companies in each category.
Mr. Padam Chand Kincha made a presentation on taxation issues while doing cross border transactions with Europe. His presentation included both exports as well as setting up of offices in Europe for facilitating export business. His presentation covered strategies for the corporates on availing of tax credit, issues related to repatriation of profits and methods for overall tax minimisation.
Mr. Raman gave an overview on the importance of achieving quality, especially, Capability Maturity Model (CMM), which is mainly to provide guidance for improving the organisation's processes and its ability to manage the development, acquisition and maintenance of products and services. Mr. Raman said that CMM include Maturity Models for software, systems engineering, developing human talent, software acquisition, integrated product development and maturity model integration. It was indicated that it is one of the important criteria for exporting to European markets.
Mr. Poovayya's presentation covered issues related to the Internet concepts and Players, Information Technology Act, Other Laws governing Information Technology and Internet, Protection of Intellectual Property Rights, Concepts of Digital signatures and its validity, online contracts, legal aspects of e-commerce, computer crimes like hacking, online fraud, virus spreading, etc. Mr. Poovayya also compared the Indian Information Technology Act vis-`-vis the laws of USA, Europe, Singapore, Malaysia etc.
Mr. Vijayakrishnan made a presentation on legal issues covering problems faced by the exporters on non-receipt of export proceeds, non-availability of LCs, guarantees, remedial measures through contract specifications, arbitration, legal recourse and availabilty of recovery agents abroad.
The speakers addressed various queries raised by the participants.