Maharashtra IT And Ites Policy To Attract Investments Worth Rs 95,000 Crore, Create 3.5 Million Jobs

(MENAFN- KNN India) Maharashtra IT and ITeS Policy to attract investments worth Rs 95,000 crore, create 3.5 million jobs

Mumbai, May 31 (KNN) The Maharashtra government has decided to offer several relaxations to the IT sector in the new IT/ ITeS policy which was cleared by the state cabinet on Tuesday.

As per reports, under the new policy, the IT industries will be able to set up tech parks anywhere across the state. It aims to offer 50 to 100 per cent subsidy in the stamp duty, waiving off electricity charges from 10 to 15 years, power supply on industrial rates among other sops and benefits to the IT industry.

Maharashtra IT And Ites Policy To Attract Investments Worth Rs 95,000 Crore, Create 3.5 Million Jobs Image

The new IT and ITeS Policy aims to attract an investment of Rs 95,000 crore, 3.5 million jobs and achieve an export target of Rs 1 lakh crore.

In order to promote the development of special fields such as AVGC (Animation, Visual effects, Gaming and Comics) in which Maharashtra has particular strengths, the state government will provide a subsidy up to Rs 25 crore or 25 per cent of the capital expenditure, states the document issued by the chief minister's office.

“Under the Ease of doing business, the state will launch Maharashtra Information Technology Interface that would give time-bound clearances for projects, registration of units and incentives,” stated a senior industry official.

“We have also decided to set aside Rs500 crore for setting up Maharashtra hub (M- Hub) to promote innovation by Micro, Small and Medium Enterprises (MSME), start-ups, and incubations centres, in emerging technologies,” he added.

To promote the growth of IT parks and IT-enabled services, the government has decided to allow the setting up of integrated IT townships, private IT parks and IT and ITES units across all zones, including residential zones, no development zones and green zones declared by the state, states the new policy.

It has further decided to grant the IT industry a 'continuous industry status' which means they will be allowed to work for 24 hours and 365 days a year, without any shutdown unless under some exigent circumstances, it added. IT services will be granted essential services status and Data centres would come under the Essential Services Maintenance Act.

The data centres state will be exempted from the standard parking norms, eligible units can avail of renewable energy under open access and develop captive power plants for data centres, it said further.

Emerging technologies like Artificial Intelligence, cloud computing and other new sectors will get customised capital assistance.

Maharashtra government has also decided to set up a dedicated Centre of Excellence (CoE) which would have officials from government, industry and academia to develop the ecosystem for this industry.

It has also decided to provide more Floor Space Index (FSI) to IT companies than what was permitted in the previous policy in order to help them to set up more units in the state.
(KNN Bureau)


KNN India

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.