Momentum in IT services industry will reduce the dependency on global markets where the growth has slowed down.
Bengaluru: Former Infosys CFO V Balakrishnan today pitched for higher spending on digitising government services to improve IT business, saying it would help bring down dependency of the domestic industry on global markets.
He also said such a measure would give a momentum to the IT services sector and eventually create a platform for redeployment of displaced IT employees.
"If the government's biggest purpose is removing corruption and making a transparent economy, it should, in the interim, step up IT spending to digitise government services that would bring in revenues and create a platform for redeployment of displaced IT employees," he told PTI.
Balakrishnan said digitisation of government services would bring revenues. This in the short-term would give a momentum to the IT services industry, which was presently seeing single digit growth rates compared to the 15-20 per cent rise a few years ago.
The momentum in IT services industry will reduce the dependency on global markets where the growth has slowed down. Stating that digitisation was taking place in bits and pieces in government departments, he said the country needed a Chief Technology Officer.
"We need a coherent technology policy. Today it is happening in bits and pieces. Each department is trying to do something, but there is no coherent policy. That is why as a country we need a Chief Technology Officer who will drive the whole thing," Balakrishnan said.
He advocated adoption of Singapore government's three-pronged strategy of creating new jobs, redeploying displaced workers and constantly upskilling workers.