IT sector Current Affairs - 2020

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Debjani Ghosh to be first woman President of NASSCOM in 2018

The National Association of Software and Services Companies (NASSCOM) has named Debjani Ghosh its president-designate. She will succeed R Chandrashekhar after his tenure ends in March 2018. It will make her first female president global trade body representing software companies.

She is former Managing Director of Intel South Asia. She is also member of NASSCOM’s Executive Council and a trustee of NASSCOM Foundation.

National Association of Software and Services Companies (NASSCOM)

NASSCOM is global non-profit trade association (organisation) of Indian Information Technology (IT) and Business Process Outsourcing (BPO) industry. It facilitates business and trade in software and services and encourages the advancement of research in software technology.

It is registered under the Indian Societies Act, 1860. Its headquarters are in New Delhi. It has regional offices in Bengaluru, Chennai, Hyderabad, Kochi, Kolkata, Mumbai, Pune and Thiruvananthapuram.

The global trade body has over 2000 members, of which over 250 are companies from the China, EU, Japan, US and UK. NASSCOM’s member companies are in the business of software development, software services, software products, IT-enabled/BPO services and e-commerce.

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Union Government plans to invest Rs.2,200 crore in electronic technology start-ups

The Union Government is targeting an investment of about Rs. 2,200 crore in start-ups working on new technologies in the electronic sector under the Electronics Development Fund (EDF) by 2019.

This investment aims at creating an eco-system to make India a global hub for electronics manufacturing. Earlier, Government had approved Rs.681 crore as seed capital for building a total corpus of over Rs 6,800 crore under the EDF meant to support entrepreneurship and innovation in electronics and IT.

About Electronics Development Fund (EDF)

  • EDF is the mother fund or fund of funds that will contribute to various funds for those who invest the money in companies for creation of intellectual property rights (IPR) in the field of electronics and IT.
  • It works with venture capitalists to create funds, known as ‘daughter funds,’ which provide risk capital to companies developing new technologies in the area of nano-electronics, electronics and IT.
  • It will help attract angel funds, venture funds and seed funds towards research & development (R&D) and innovation in the specified areas.
  • It will also help to create a battery of Fund Managers and Daughter funds who will be seeking good start-ups (potential winners) and selecting them based on professional considerations.

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