Affordable IT Equipment Enabled India to Become a Powerhouse in Consulting Services - Lamy
ADDRESSING the 15th Anniversary celebrations of the Information Technology Agreement yesterday, WTO Director General Pascal Lamy said,
The story of today's celebration started in 1996, when a group of WTO members overcame numerous political difficulties and technical obstacles, and finally came together to eliminate tariffs and expand trade in IT products.
They did this in a sector, which is a driver of productivity, innovation, development and economic growth.
They did this in a pragmatic manner, by giving participants flexibilities to reach the end goal of eliminating tariffs.
Although developed countries still account for a large share of the investment and consumption of IT products, in recent years investment in this sector has increased considerably in some emerging economies - such as China, India and ASEAN countries. These countries have now turned into indispensable producers and consumers in global value chains of IT products.
Developing countries have also used IT products and technologies as effective means to establish their competitiveness and market position in other areas. For example, access to affordable IT equipment has been instrumental in enabling India to become a powerhouse in consulting services and software development.
In southern India, mobile phones have helped fishermen address information asymmetries with traders and consumers. Better market coordination has resulted in increased profits for the fishermen, lower fish prices for poor consumers as well as a reduction in wastage of fish.
Let us hope the Indian Customs, Excise and Service Tax officers understand this concept when they book great gigantic cases against IT Companies .