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PUDUCHERRY
French War Memorial, Puducherry
March 2021
For updated information, please visit www.ibef.org
Table of Contents
Executive Summary 3
Introduction 4
Economic Snapshot 8
Physical Infrastructure 12
Social Infrastructure 18
Industrial Infrastructure 21
Key Sectors 24
Key Procedures & Policies 28
Appendix 34
2
Executive summary
Agriculture - Primary occupation
1 •
•
Agriculture is one of the most important occupations for the people of Pondicherry. About 45% of the total
population of Puducherry depends directly or indirectly on farming.
The sector contributes less than 2% of the GSDP of the Government of Puducherry.
Port's performance
2 •
•
New port is expected to start with 3.5 lakh tons of cargo per annum comprising container cargo and general cargo
Karaikal Port Private Limited (KKPL) is expected to increase cargo handling to over 125 MMT by 2025.
Strong economic growth
3 •
•
Puducherry is one of the fastest-growing union territories in the country. At current prices, Puducherry’s gross state
domestic product (GSDP) was about Rs. 345.78 billion (US$ 4.91 billion) in 2019-20.
Puducherry’s total NSDP was about Rs. 345.78 billion (US$ 4.91 billion) in 2019-20.
Tourist paradise
4 • It has well developed infrastructure with an excellent road and rail network, and two airports (domestic and
international) in the city providing excellent connectivity.
Source: Government Reports, News Article
3
INTRODUCTION 4
Puducherry fact file
Puducherry
2547 persons per sq km 1,565,000
Population density total population
490 sq.km.
geographical area
635,442 612,511
female population male population
1,037
85.85% Sex ratio
Key Insights literacy rate (females per 1,000 males)
• Puducherry, a union territory (UT) of India, is bounded on the East by the Bay of Bengal and on the three sides by Tamil Nadu.
• The UT comprises Puducherry, Karaikal, Mahe and Yanam, wherein Karaikal lies about 130 km south of Puducherry on the East Coast, Mahe is
situated on the Malabar Coast on the Western Ghats surrounded by Kerala. Yanam is situated adjoining the East Godavari district of Andhra
Pradesh.
• The main languages spoken here are Tamil, Telugu, Malayalam, English and French.
• The weather is hot and humid from March through July and cool from December to February.
Source: Census 2011, Government of Puducherry Website
5
Advantage Puducherry
High economic growth and Facilitating Infrastructure
stable political environment • Puducherry has a well-developed industrial infrastructure
with nine industrial estates.
• GSDP (in Rs.) grew at a Compounded • It has an airport and two ports.
Annual Growth Rate (CAGR) of 9.31%
between 2015-16 and 2019-20.
• The state government is committed towards
creating a progressive business
environment.
Strong presence in High literacy rate
agriculture and tourism
• According census 2011, Puducherry had
• The agriculture sector an average literacy rate of 85.85%. A large
contributes ~2% of the Gross proportion of the population can speak
State Domestic Product English, which helps boost the union
(GSDP) of the Government territory’s tourism sector.
of Puducherry.
• High inflow of tourists driving
tourism revenue.
6
Puducherry in figures
Puducherry’s Contribution to Indian Economy (2019-20) Physical Infrastructure in Puducherry
GSDP GSDP as a percentage of all states’ GSDP Installed power capacity (MW) (as of February
India: 100.0 | Puducherry: 0.19 2021)
India: 379,130.41 | Puducherry : 380.43
GSDP growth rate* (%) Wireless subscribers (million) (as of September
India: 11.50 | Puducherry : 11.27
2020)
India: 1,148.58 | Puducherry : 1.11
Social Indicators
Airport (No.)
Literacy rate (%) India: 153 | Puducherry : 1
India: 77.7 | Puducherry : 85.85
National highway length (km) (as of December 2020)
Birth rate (per 1,000 population) (2018) India: 136,440 | Nagaland : 64.00
India: 20.0| Puducherry : 13.7
Puducherry Export (US$ million) Investments (as of December 2020)
Cumulative FDI equity inflows (from October
400.00 392.79
380.00 366.31
360.00 343.67 2019 to December 2020) (US$ million)
340.00
320.00 India: 75,351.56 | Puducherry : 58.61
300.00
2018-19 2019-20 2020-21*
Total merchandise exports from Puducherry stood at US$ 343.67
million in FY21 (until January 2021).
Note: For source refer to Annexure, *- Until January 2021
7
ECONOMIC SNAPSHOT 8
Economic snapshot - GSDP
GSDP at Current Prices GSDP per capita at current prices
6.00 CAGR (In Rs.) 9.31% 400 CAGR 6.44%
3,500 300000
380.04
350
3,400
5.39
5.00
3,444.96
341.79
250000
4.99
4.89
300
321.30
3,359.32
3,300
242,835.08
295.73
4.41
4.00
224,269.17
250 3,200 200000
216,508.22
4.07
266.17
204,655.12
3,208.89
189,172.27
3.00 200 3,100
150000
3,000
3,050.46
150
2.00 2,900 100000
100
2,889.89
2,800
1.00 50000
50
2,700
0.00 0 2,600 0
2015-16
2016-17
2017-18
2018-19
2019-20
2015-16
2016-17
2017-18
2018-19
2019-20
US$ Rs.
US$ billion Rs billion
At current prices, Puducherry’s gross state domestic product (GSDP) Puducherry’s per capita gross state domestic product (GSDP) in
was ~Rs. 380.04 billion (US$ 5.39 billion) in 2019-20. 2019-20 was estimated at ~Rs. 242,835.08 (US$ 3,444.96).
The GSDP increased at a CAGR of 9.31% between 2015-16 and Per capita GSDP of the state increased at a CAGR of 6.44%
2019-20. between 2015-16 and 2019-20.
Note: GSDP, per capita GSDP figures are taken at current prices, Exchange Rate as per slide 46
Source: Ministry of Statistics and Programme Implementation
9
Economic snapshot - NSDP
NSDP at Current Prices Visakhapatnam
NSDP per capita
port traffic
at current
(million
prices
tonnes)
CAGR 9.22% CAGR 6.35%
6.00 400 3,500 250000
350 3,000
3,134.47
5.00
220,948.80
3,077.80
345.78
200000
2,925.50
4.91
204,463.27
300
2,792.61
198,364.35
311.60
2,500
4.57
2,638.66
187,356.50
4.46
4.00 294.37
172,726.75
250
270.73
4.04
150000
2,000
3.71
243.03
3.00 200
1,500
150 100000
2.00
1,000
100
50000
1.00 500
50
0.00 0 0 0
2015-16
2016-17
2017-18
2018-19
2019-20
2015-16
2016-17
2017-18
2018-19
2019-20
US$ Rs. billion US$ Rs.
Puducherry’s total NSDP was ~Rs. 345.78 billion (US$ 4.91 billion) Puducherry’s per capita NSDP was Rs. 220,948.80 (US$ 3,366.14)
in 2019-20. in 2019-20.
The state’s NSDP (in Rs.) increased at a CAGR of 9.22% between Per capita NSDP of the state increased at CAGR of 6.35% between
2015-16 and 2019-20. 2015-16 and 2019-20.
Note: NSDP, per capita NSDP figures are taken at current prices, Exchange Rate as per slide 46
Source: Ministry of Statistics and Programme Implementation
10Economic snapshot – Percentage distribution of GSVA
Gross State Value Added by Economic Activity at Current
In 2019-20, the tertiary sector contributed 49.39% to the state’s
Basic Prices
gross state value added (GSVA) at current prices, followed by
secondary (44.68%) and primary (5.93%) sectors.
100%
46.30% CAGR* 49.39%
At a CAGR* of 12.15%, the tertiary sector was the fastest-growing 90%
among the three sectors between 2011-12 and 2019-20. This was
80%
driven by railways, road transport and air transport services
70%
incidental to transport, storage, financial services, real estate, 12.15%
ownership of dwelling & professional services and other services. 60%
50% 46.90%
The primary sector increased at a CAGR* of 9.36% between 44.68%
2011-12 and 2019-20. 40%
10.58%
30%
The secondary sector increased at a CAGR* of 10.58% between
2011-12 and 2019-20. 20%
10%
9.36%
6.80% 5.93%
0%
2011-12 2019-20
Primary Secondary Tertiary
Note:-* in Rs. terms
Source: Directorate of Economics & Statistics of Odisha, Central Statistics Office, Sector-wise % share of GSDP
11PHYSICAL INFRASTRUCTURE 12
Physical infrastructure
Roads Allocation for development and
maintenance of the national Allocation
Puducherry is situated about 170 km south of Chennai on the East highways in 2020-21
Coast Road and National Highway NH-45A, connecting Chennai and
other major cities. Rs. 18 crore
Allocation under development
(US$ 2.48 million)
The length of the road in Puducherry is 2,398 km (road length per
4.87 sq. km.) and is the highest in the country.
Rs. 2.06 crore
Allocation under maintenance
(US$ 284.38 thousand)
Ports Port Centre Cargo Type
Containers, Cars, General Cargo,
There are two ports in the union territory of Puducherry - Puducherry Puducherry
Edible Oil and Commuters
Port and Karaikal Port.
Coal, Sugar, Cement, Fertilisers,
In March 2021, India and Norway agreed to conduct marine spatial Project Cargo, Agro
Karaikal
Commodities, Liquid Cargo and
planning in Puducherry and Lakshadweep and collaborate in the
Containers
marine spatial planning in the oceanic space for the next five years.
In February 2021, Prime Minister, Mr. Narendra Modi laid the
foundation stones for development of Minor Port at Puducherry,
under the Sagarmala Scheme, to provide better connectivity in the
state and facilitate seamless cargo movement for industries in
Puducherry.
Source: Pondicherry Industrial Promotion Development And Investment Corporation Limited, India Investment Grid Website
13Physical infrastructure - Airport
Airport indicators (From April 2020 to January 2021)
Puducherry Airport Statistics
Passengers Freight
(in no.) (in MT)
Airport
2019-20 2020-21 2019-20 2020-21
Puducherry 57,783 43 874 2
A domestic airport is located in Puducherry with flights to and from Bengaluru, Hyderabad and Vijayawada.
The airport handled 57,783 passengers in FY20 (between April 2019 and January 2020).
In November 2019, the Government of Puducherry proposed an international airport under public-private partnership mode at Karasur.
Source: News Articles, Know India Aviation Database
14Physical infrastructure - Power
Installed Power Capacity (MW) Classification of Installed Power Capacity in FY20
390.00
1.9%
380.00
380.43
370.00
376.20
22.9%
370.04
368.63
366.98
360.00 Thermal
350.00 Nuclear
340.00 Renewable
330.00
334.63
75.2%
320.00
310.00
FY16 FY17 FY18 FY19 FY20 FY21*
The Electricity Department under the Government of Puducherry is in charge of electricity maintenance in the union territory.
As of February 2021, Puducherry had a total installed power generation capacity of 380.43 MW, of which 338.60 MW was under the central
sector, state utilities (32.50 MW) and private sector (9.33 MW). Of the total installed power-generation capacity, 285.10 MW was contributed by
thermal and 9.33 MW by renewable energy.
The industrial sector is the largest consumer of electricity, followed by the domestic sector.
Note: MW- megawatt, Until February 2021
Source: Central Electricity Authority, Union Budget 2020
15Physical infrastructure - Telecom
Telecom Infrastructure (as of September 2020)
Wireless subscribers (million) 1.11
Performance status of Bharat Net Project
Service-ready GPs (November 2020) 101
Wireline subscribers (million) 0.04
Teledensity (in %) 74.36
As of September 2020, Puducherry had 1.11 million wireless and
0.04 wireline subscribers. Some of the key telecom service providers:
Bharat Sanchar Nigam Limited (BSNL)
Puducherry had a total teledensity of 74.36%, as of September 2020.
Bharti Airtel
Reliance Jio
Vodafone Idea Ltd.
Note: 1(NA) - Not Available
Source: India Investment Grid Website, TRAI
16Physical infrastructure - Urban development
As per the Union Budget 2020-21, the Ministry of Home Affairs provided Upcoming Water Treatment Cost of the Project
Presence
Projects (US$ million)
Rs. 1 lakh (US$ 1,362.69) for water and sanitisation in the state.
JJM Rural Implementation
Across Nation 49.18
Project
The budget also accounted for Rs. 5 crore (US$ 0.68 million) for
Disaster Response Fund and Rs. 0.01 crore (US$ 1,362.69) for Coastal Jal Jeevan Mission
Disaster Risk Reduction Project. Across Nation 38.18
Implementation Project
In 2019, Puducherry was declared as an open defecation-free state. Ground Sewerage System
Puducherry 7.17
Development Project
Improvement of Primary
Puducherry 7.17
Store Water Project
Source: Union Budget 2020, India Investment Grid Website
17SOCIAL INFRASTRUCTURE 18
Social infrastructure - Education
Puducherry educational statistics Puducherry educational statistics
Primary Institutes 278 Higher Education Institutions 145
Upper Primary Institutes 87 Senior Secondary 164
Secondary Institutes 202 Colleges 84
Standalone Institutions 57 Universities 4
In February 2021, Prime Minister, Mr. Narendra Modi inaugurated the Blood Centre at the Jawaharlal Institute of Postgraduate Medical Education
and Research (JIPMER), Puducherry, and dedicated a 100-bed hostel to women athletes in Lawspet, Puducherry. In addition, he inaugurated the
reconstructed Heritage Marie Building.
In August 2020, the Union Education Ministry released Rs. 206.94 crore (US$ 28.07 million) to the Pondicherry University to develop its
infrastructure.
In 2017, NITI Aayog rolled out a scheme titled ‘Sustainable Action for Transforming Human Capital in Education’ (SATHE-E) to streamline the pre-
college education before 2020 in the union territory.
Source: MHRD report on ‘education statistics at a glace, News Articles
19Social infrastructure – Health
Healthcare infrastructure Health indicators (2016-18)
Puducherry Puducherry
Public facilities 53 Birth rate 13.7
Beds available in public Death rate 6.9
4,462
facilities
Natural growth rate 6.8
Rural hospitals 3
Infant mortality rate 11
Urban hospitals 11
Birth rate 13.7
As per the Ministry of Health and Family Welfare Budget 2020-21, the government allocated Rs. 65,011.80 crore (US$ 885.91 million) to Puducherry
in the form of various schemes to the health services sector.
In July 2018, the union territory government proposed to establish an exclusive spinal injury treatment centre at the Indira Gandhi Government
General Hospital and Post Graduate Institute in Puducherry.
Note: 1Per thousand persons, 2Per thousand live births
Source: Ministry of Health and family Welfare Budget 2019-20, Hospaccx Healthcare Business Consultancy UT overview, NITI Government report, Press Information Bureau Report
20INDUSTRIAL INFRASTRUCTURE 21
Industrial infrastructure
In February 2021, The Ministry of MSME announced that it is Industries in Puducherry
establishing an expertise centre in Puducherry to promote, support
and foster growth of indigenous MSMEs and start-ups in the state. Cotton textile Soda water Chemicals
The Industrial Policy 2016 is expected to make Puducherry a
Rubber, plastic &
preferred industrial investment destination and envisages strong and Jute & jute products Agriculture
petroleum
specific initiatives to ensure timely and hassle-free guidance and Readymade
clearances to new entrepreneurs. Wood/wood-based
garments & Minerals
furniture
embroidery
After an application of the industrial policy was released in 2016, the
Electrical machinery
government cleared 27 industrial projects with an investment of Rs. Paper & paper
Leather and transport
products
177.5 crore (US$ 24.1 million). equipment
The union territory is expected to attract an investment of US$ 5
billion and add 50,000 jobs.
Source: Industrial Policy Brochure - 2016, Invest India website, News Articles
22Industrial estates
There are nine industrial estates in Puducherry with 8,708 registered Industrial estates in Puducherry
units.
Size of the Plot
Industrial Estates No. of Units
As of 2014-15, there are 8,699 small-scale industries, 190 medium- (acre)
scale industries and 77 large-scale industries. There are also 2 sugar Mettupalayam Industrial
167 351
factories and 8 textile mills in Puducherry. Estate
Sedarapet Industrial Estate 62 87
Some of the key industries in Puducherry include chemicals, textiles,
leather, electronics, light engineering, metals, tourism and food Kirumambakkam Industrial
25 22
processing. Estate
Thirubuvanai Industrial
52 71
Estate
I.T. Park, Pillaichavady 18 11
Industrial Growth Centre 597 16
Thattanchavady 51 91
Manapet 15.58 NA1
Kottucherry 7.66 NA1
Note: 1(NA) - Not Available
Source: Industrial Policy Brochure - 2016, DCMSME report
23KEY SECTORS 24
Key sectors - Agriculture
Agriculture is one of the most important occupations for the people of
Type of Agricultural Crops and Fruits
Pondicherry. About 45% of the total population of Puducherry
depends directly or indirectly on farming. Rice Maize Jowar
The agriculture sector contributes less than 2% of the Gross State Bajra Ragi Cotton
Domestic Product (GSDP) of the Government of Puducherry.
Coconut Sugarcane Oilseeds
The main crop of this territory is paddy.
Gingelly Chillies Bananas
Puducherry is one of the largest producers of bananas, flowers,
tapioca, coconut, groundnut and sugarcane. Flowers Tapioca Groundnut
Pandit Jawaharlal Nehru College of Agriculture and Research Pulses (Bengalgram, Redgram, Greengram, Blackgram and Horsegram)
Institute, an agricultural college, has presence in the union territory of
Puducherry. Targets for Vision 2025 - Targets for Agriculture, Fisheries and
In November 2020, the National Bank for Agriculture and Rural Rural Development
Development (NABARD) unveiled the ‘Potential Linked Credit Plan’
(PLP) for Puducherry worth Rs. 3,457.14 crore (US$ 467.74 million) Parameter Current Vision 2025
for 2021-22. GSDP of Primary
220 (US$ 29.9 303 (US$ 41.2
Sector
million) million)
(Rs. crore)
Target 29,000
Area Under hectares
34,682 hectares
Cultivation instead of a drop to
25,000 hectares
No. of Food Parks
(agrifood and fish 0 5
processing)
No. of Diary Unions 2 4
Source: Department of Agriculture and Farmers Welfare, Puducherry Vision 2025
25Key sectors - Tourism and hospitality
Puducherry is an attractive tourist destination with its beaches, Tourist Arrivals in Puducherry (million)
French architecture, churches and Hindu temples.
While domestically, tourist arrival was observed from Bengaluru, 2.00
Hyderabad, Kerala, Chennai, Odisha and West Bengal, foreign
1.80 0.15
travellers were mostly from European countries, especially France.
0.14
1.71
1.60 0.13
In 2019, Puducherry witnessed the arrivals of 1,713,248 domestic 1.62
tourists and 149,919 foreign tourists. 0.12 1.53
1.40
1.40
The total occupancy capacity in Puducherry stands at 5,000 rooms
1.20
as of 2018.
1.00
0.80
0.60
0.40
0.20
0.00
2016 2017 2018 2019
Domestic Foreign
Source: Ministry of Tourism, News Articles
26Key sectors - Marine products
The coastline is about 45 kms, with 26 landing centers and 1,000 sq. Fishing Craft # of crafts
km. of continental shelves (with potential for marine fisheries).
Traditional crafts (non-motorised) 662
It has a fishermen population of about 95,467, of which 29,383
Motorised crafts 1,562
fishermen are actively engaged in fishing from 27 marine fishing
villages and 23 inland fishing villages/hamlets. Mechanised boats 369
The union territory is also endowed with freshwater area in the form
of ponds and tanks suitable for both capture and culture fishery.
In January 2021, the Department of Fisheries and Fishermen Welfare
in Puducherry introduced a helpline to assist fishermen in contacting
the department to resolve their grievances.
o In addition, the government will provide transponders at a
subsidised rate. It will offer a subsidy of Rs. 5,000 (US$ 68.90)
and as a transponder costs Rs. 15,000 (US$ 206.69), the
fishermen would only have to pay Rs. 10,000 (US$ 137.79) to
procure the device.
Source: The Marine Products Exports Development Authority (MPEDA)
27KEY PROCEDURES AND POLICIES 28
Key investment promotion offices
Agency Description
Ministry of Road Transport & An apex body under the central government is primarily responsible for planning, development and
Highways maintenance of National Highways in the country.
The department is responsible for creating scientific awareness among the general public and students,
Science, Technology and
extending support in carrying out research projects/studies, and conversing and protecting the environment
Environment Department
of the union territory.
The department is responsible for providing and promoting the health, safety and social security for workers
Labour Department
by implementing an array of labour legislations (central and state).
The department is responsible for providing assistance in all IT activities to Government Departments,
Information Technology ensuring increased transparency, efficiency and accountability in Government operations through e-
Governance and controlling Puducherry e-Governance Society.
The department is deemed responsible for transmission, distribution and retail supply of electricity in the
Electricity Department
union territory.
Animal Husbandry and Animal The department focusses on safeguarding the health of domestic animals and sustaining and improving the
Welfare Department productivity of farm animals.
All Municipalities and Commune Panchayats in Puducherry function under the Local Administration
Local Administration
Department.
Source: Government of Puducherry website
29Contact list
Agency Contact information
Local Administration
No:16, Rue Suffren, Near, Bussy St., Puducherry, 605001
Local Administration
Phone: 91-4132224721
Website: https://lad.py.gov.in
Source: Government of Puducherry website
30Key approvals required
Approvals and clearances required Departments to be consulted
Incorporation of Company Registrar of Companies
Department for Promotion of
Industrial Entrepreneurs' Memorandum
Industry and Internal Trade
Pondicherry Industrial
Allotment of Land Promotion Development and
Investment Corporation Ltd.
Permission for Land Use Puducherry Planning Authority
No Objection Certificate and Consent Puducherry Pollution Control
under Water and Pollution Control Acts Committee
Electricity Department,
Sanction of Power
Government of Puducherry
Registration under the State Sales Tax
Act and Central and Excise Act Commercial Taxes Department
Source: Government of Puducherry website
31Cost of doing business in Puducherry
Cost parameter Cost estimate
Industrial land (per sq. ft.) More than US$ 25
Office space rent
More than US$ 27 cents
(per sq. ft. per month)
Hotel costs (per room, per night) US$ 20-200
101-200 units - Rs. 2.55 (US$ 0.035)
Power (per kWh) 201-300 units - Rs. 4.50 (US$ 0.061)
Above 300 units - Rs. 5.90 (US$ 0.080)
Source: Industry source
32State acts & policies
IT Policy 2017
1
The new policy seeks to be recognised as one of the leading union territories in the country
on the e-Readiness Index and also adopt several new strategies such as "Make in India",
"Startup India", "Standup India“ and "Ease of Doing Business“.
Union Budget 2021
In Union Budget 2021, the total funds transfered to Delhi, Puducherry and Jammu & Kashmir
2 stood at Rs. 48,686 crore (US$ 6.72 billion). Of the total, the government allocated funds
worth Rs. 8,065 crore (US$ 1.11 billion) to centrally sponsored schemes, Rs. 177 crore (US$
24.43 million) to central sector schemes and Rs. 40,444 crore (US$ 5.58 billion) to other
categories of expenditure.
Draft Water Policy
3 The policy has detailed information on the water resource planning, water allocation
priorities, irrigation, drinking water management, ground water development, etc.
Source: Government of Puducherry Policies
33APPENDIX 34
Sources
Data Sources
Installed power capacity (MW) Central Electricity Authority
Wireless subscribers (no.) Telecom Regulatory Authority of India
Internet subscribers (million) Telecom Regulatory Authority of India
National highway length (kms) Ministry of Road Transport and Highways
Number of ports India Ports Association
Airports (no.) Airports Authority of India
Literacy rate (%) Census 2011
Birth rate (per 1,000 population) SRS Bulletin, September 2017
35Exchange rates
Exchange Rates (Fiscal Year) Exchange Rates (Calendar Year)
Year Rs. Equivalent of one US$ Year Rs. Equivalent of one US$
2004-05 44.95 2005 44.11
2005-06 44.28 2006 45.33
2006-07 45.29 2007 41.29
2007-08 40.24 2008 43.42
2008-09 45.91 2009 48.35
2009-10 47.42 2010 45.74
2010-11 45.58 2011 46.67
2011-12 47.95 2012 53.49
2012-13 54.45 2013 58.63
2013-14 60.50 2014 61.03
2014-15 61.15 2015 64.15
2015-16 65.46 2016 67.21
2016-17 67.09 2017 65.12
2017-18 64.45 2018 68.36
2018-19 69.89 2019 69.89
2019-20 70.49 2020 74.18
2020-21 72.59 2021* 73.69
Note: As of February 2021
Source: Reserve Bank of India, Average for the year
36Disclaimer India Brand Equity Foundation (IBEF) engaged Sutherland Global Services private Limited to prepare/update this presentation. All rights reserved. All copyright in this presentation and related works is solely and exclusively owned by IBEF, delivered during the course of engagement under the Professional Service Agreement signed by the Parties. The same may not be reproduced, wholly or in part in any material form (including photocopying or storing it in any medium by electronic means and whether or not transiently or incidentally to some other use of this presentation), modified or in any manner communicated to any third party except with the written approval of IBEF. This presentation is for information purposes only. While due care has been taken during the compilation of this presentation to ensure that the information is accurate to the best of Sutherland Global Services’ Private Limited and IBEF’s knowledge and belief, the content is not to be construed in any manner whatsoever as a substitute for professional advice. Sutherland Global Services Private Limited and IBEF neither recommend nor endorse any specific products or services that may have been mentioned in this presentation and nor do they assume any liability, damages or responsibility for the outcome of decisions taken as a result of any reliance placed on this presentation. Neither Sutherland Global Services Private Limited nor IBEF shall be liable for any special, direct, indirect or consequential damages that may arise due to any act or omission on the part of the user due to any reliance placed or guidance taken from any portion of this presentation. 37
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