Major reform announced for the ITeS/BPO industry. Here is the notification on the radical liberalization of regulations for the sector. Mark my words, this will create millions of jobs in next 5 years 1/n pib.gov.in/PressReleasePa…
The registration requirement for OSPs has been done away with altogether and the BPO industry engaged in data related work have been taken out of the ambit of OSP regulations. 2/n
Requirements such as bank guarantees, static IPs, frequent reporting obligations, penal provisions etc. have also been removed. Requirements preventing companies from adopting ‘Work from Home’ and ‘Work from Anywhere’ policies have also been removed. 3/n
The idea is to open up the ITeS/BPO sector so that India becomes the "backoffice of the world" and perhaps in some segments even the "front office". The Covid crisis has made the world comfortable with doing business through digital platforms. India will make the most of it. 4/n
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