What are the challenges faced by the Indian technology sector in achieving global competitiveness
Discuss the main challenges faced by the Indian technology sector and how they can improve their global competitiveness.
- Infrastructure: The sector faces challenges like limited access to high-speed internet, inadequate power supply, and poor transportation facilities, which can impact the overall growth of domestic tech companies.
- Talent Shortage: There is a shortage of highly skilled professionals for key technical roles in the industry. This heightened competition for talent has increased labor costs in the industry and has the potential to affect its growth.
- Intellectual Property and Legal Framework: The legal framework is not strong enough to protect intellectual property rights, and the process of getting patents and trademark registrations is time-consuming and often challenging.
- Regulatory and Tax Environment: Tax policies in India are often complex, and regulatory compliance can be challenging, requiring companies to invest in legal and accounting services.
- Digital Divide: There is a significant digital divide in India, leading to a lack of access to digital resources and a divide between those who are connected and those who are not.
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