The Indian “Information Technology” industry has expanded from exports of US$2 billion to US$ 50 billion (2008 figures) in just one decade. The opportunities in IT and IT-related services, such as BPO, KPO, LPO and even hitherto largely untapped markets such as software and product development, remain vast for the Indian IT sector.
In order to grasp global opportunities in a fast changing world the Indian IT sector needs to climb further up the IT value chain. Having an “offshore” presence in a cost-effective country such as India is simply not enough. Indian IT companies require to be “on-shore” too – where their customers are located. That means setting up or enhancing local operations and transferring knowledge, skills and resources to those locations to blend in with local talent to reach out effectively to clients there. The large Indian IT giants have succeeded in doing that but their example must be followed by others.
Due to the difficult economic climate, the traditional export markets for the Indian IT sector such as the UK, although still offering many business opportunities, have had to raise the bar in terms of regulatory requirements. This includes increased compliance for obtaining visas for Indian IT consultants as well greater scrutiny of expatriate payroll tax and corporate tax profiles.
In the articles in this section we explore the practical immigration, tax and other regulatory issues facing Indian & other IT companies in the UK and Europe in general and we offer indicative solutions as to how regulatory obstacles can be overcome within compliance frameworks.
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