23 June, 2021

Coming Of The Dot Cons

A hard look is required at software firms which could be shell companies for dubious work.

Coming Of The Dot Cons
outlookindia.com
-0001-11-30T00:00:00+05:53
Hard Look At Software
  • The top 20 software firms account for 45% of the industry’s revenues. Hordes of smaller ones may be shell companies for dubious work.
  • Software Technology Parks are being used for money-laundering
  • Scruinty is lax for firms in tech parks due to the hype. They can transfer money without question.
  • Hasan Ali had 20-30 software firms registered in Hyderabad

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Hassan Ali’s case had a software angle too. Investigators have said that he owned 20-30 software firms in Hyderabad, which were used to launder money through false exports earnings. In fact, there has been a low-key debate for some years that a portion of India’s software exports were ‘unreal’. Let’s start with some startling facts. Sources say that the top 20 software services firms, as ranked by Nasscom, account for over 45 per cent of the industry’s annual revenues (exports plus domestic sales).

Since the Nasscom list doesn’t...

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