In the wake of the recent series of frauds with the partners, Trade Association of Information Technology (TAIT), Mumbai, is planning to imbibe certain regulatory practices.

To draw up a comprehensive list of such practices, TAIT has already conducted around four meeting with its members to seek out possible ways tackling this issue. One of the actions that they have decided upon is that they will start educating the members about business practices from the ground level.

Speaking about this, Champakraj Gurjar, Chairman, TAIT, said, “The main problem with the IT industry lies in the fact that it is a very immature industry. Partners here have not inherited the business from their ancestors; in fact mostly all the partners have started their businesses. For this reason, we think it is necessary to educate the partners from the ground level about business practices.”

CHAMPAKRAJ GURJAR: Partners have not inherited but started their own businesses and so is necessary to educate partners from the ground level about business practices

Besides this, TAIT is also planning to introduce a special section at their website, where the details of every new partner will be listed down. Champakraj said, “We would take down every minute details of the new members and list them down at our website. This will help the partners to identify the authentic dealers.”

Earlier TAIT had made successive attempts to reduce the time for issuing credits. The association has been issuing memorandums to its members and vendors to fix upon a specific credit time limit. But after the recent frauds, TAIT now seems to be skeptical on the entire process of issuing credits.

Champakraj said, “Actually except in the IT industry, all the credits are taken care upon by banks. Anyways IT is a dynamic industry, where the partners have to worry every moment about phasing out of technology and they need to keep updating themselves. In such a scenario, the uncertainty regarding the credits is an added headache.” He also mentioned that the association is also planning to initiate some practices, where banks can possibly take the responsibility of resolving the credit issues with certain finance schemes.

Issuing credits in IT business is common thing with the partners and vendors. But with the onset of successive frauds in the market, the IT partners seem to question about this age-old practice.

SHILPI DAS

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