StealthĀ ā¢Ā 7m
šøReduced import tariffs on hardware and software (up to 60% reduction). šøRecognition of software exports as a ādelicensed industry,ā making exporters eligible for bank finance. šøPermission for foreign companies to set up autonomous, export-dedicated units. šøEstablishment of software parks for infrastructure at lower costs. šøWork shifted to India, despite friendlier policies for foreign firms. This shift led to Bangaloreās development and the relative decline of other centers like Mumbai. šøMultinational firms also adapted to new policies, contributing to Indiaās IT growth. EVOLUTION (990s and Beyond): šøSince the 1990s, value-addition increased, and domestic firms became less dominant. šøIndiaās talent pool attracted work due to cost-effectiveness. šøThe Indian IT industryās journeyāfrom overcoming challenges to becoming a global powerhouseāreflects resilience, innovation, and adaptability.
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