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330 Economic Survey 2021-22

NASSCOM undertook a survey between October to November 2021 to assess the impact of OSP
reforms on IT-BPM Sector. Its findings are as follows:
l 92 per cent of the participants stated that the OSP reforms have helped reduce compliance burden.
While 28 per cent of the participants responded that their compliance burden reduced by more
than 50 per cent, 20 per cent of participants acknowledged compliance reduced by 40-50 per cent.
15 per cent of participants responded that compliance reduction by 30-40 per cent (Figure 1A).
l 24 per cent of the respondents expect that OSP reforms will help in generating new employment
opportunities, 10 per cent expect that it will reduce the cost of doing business in India, whereas
64 per cent expect all these benefits to accrue (Figure 1B).
l Further, 83 per cent of the participants responded that these reforms will help in reducing the
financial burden; 24 per cent of the respondents stated that these reforms have significantly
enhanced productivity of their organization; and 94 per cent said that these reforms will increase
competitiveness globally.

Figure 1A: Reduction in compliance Figure 1B: OSP Reforms: Positive
burden? impact on the industry

l Almost all participants were satisfied with the work from home/work from anywhere relaxations’.
l Over 62 per cent of the respondents indicate that they will increase their employment by 5-10
per cent annually over the next 5 years; and around 50 per cent of the respondents indicated
expanding into new locations.

Ports, Shipping and Waterways Services
9.41 Development of ports is crucial for the economy. Ports handle around 90 per cent of
export-import cargo by volume and 70 per cent by value in India. The total cargo capacity of all
the ports has increased to 1,246.86 Million Tonnes Per Annum (MTPA) as of March 2021 from
1,052.23 MTPA as of March 2014.
9.42 Hit by disruptions caused by Covid-19, cargo traffic at India’s ports decreased by 5.4 per
cent during 2020-21, to 1,246.86 MT from 1,317.73 MT during 2019-20. Port traffic has picked
up in 2021-22 so far, registering a growth of 10.16 per cent during April-November 2021 over
the same period last year (Figure 8). During the first eight months of 2021-22, ports handled
total traffic of around 858.3 MT, as compared to 779.2 MT in the corresponding period of
previous year.