Lack of clarity on software exports hurting IT industry: Narayan Murthy

Infosys Chairman Emeritus N.R. Narayana Murthy has expressed concern over the Indian IT industry in a quandary for want of clarity from the government on the definition of software exports.

"It has been over a year since the industry had asked the government for its definition of software exports. For various reasons, the officials have not been able to provide it," Murthy told reporters in Bangalore.

Murthy noted that the absence of clarity had been inconveniencing the software and services industry, which had registered $70 billion exports in 2011-12.

"I hope that an extraordinary individual like (Finance Minister) Pranab Mukherjee will ensure that a quick clarification is provided on the definition of software exports," Murthy said at a function where a book "Chaitra Yatre" authored by Karnataka's Additional Chief Secretary K. Jairaj was released.

Expressing faith in Mukherjee and terming him an "excellent person", Murthy hoped that the finance ministry would clarify its stand on the issue at the earliest.