Karnataka - Bangalore   

‘All support to software sector’

B.S. Yeddyurappa

Bangalore: Chief Minister B.S. Yeddyurappa has said that the State Government will extend full support to the software sector.

The Chief Minister’s statement comes in the wake of U.S. President Barack Obama’s announcement at ending years of tax incentives to those American firms which create jobs overseas in places like Bangalore.

He told presspersons here on Wednesday that the Government would shortly hold a meeting with the software technology establishments here on what needed to be done.

“Personally, I do not feel that the software technology industry here will be affected by any change in the U.S. policy. However, in the interest of taking certain preventive steps, the State Government will do all that it can to safeguard the interests of the sector which has a large number of employees from the State”.

The Chief Minister said the Government would bring the matter to the notice of the new government at the Centre soon after it assumes office.

“If need be, I will also call on the new Prime Minister and impress upon him the need to extend support to the software sector and also speak to the U.S. leaders”.

The Chief Minister said that the curbs would only have a “marginal impact” on third party IT vendors and the changes might result in higher tax payout for U.S. firms. “Such curbs are intended to prevent U.S. companies from retaining profits abroad. Software companies should also reduce their dependence on business relating to outsourcing,” he said.

The Chief Minister said that he had no plan to reshuffle the Cabinet.

On the objections raised by people in Bangalore to tree-felling for development works, like road-widening and Metro Rail construction, the Chief Minister appealed to Bangaloreans to cooperate with the authorities. “All development works are for the benefit of the people,” he said.

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