AHMEDABAD: A major bonanza is in store for IT companies here as the state government announced the Gujarat IT/ ITes Policy 2022-27,
Gujarat chief minister Bhupendra Patel unveiled the policy document at a ceremony held at GIFT City Gandhinagar on Tuesday morning.
As part of the new policy, the state government has announced a capital expenditure support of upto Rs 200 crore for upcoming IT companies in the state, which was upto Rs 1 crore in the previous policy. This new policy will be in force for five years ie from 2022 to 2027.
“The policy introduces a unique concept of Capex-Opex model. As part of this, Capex support of 25% upto Rs 50 crore will be extended for small to medium-sized projects and Rs 200 crore for mega projects will be provided.
Over and above this, operating expenditure support of 15% upto Rs 20 crore per year for small to medium-sized projects and Rs 40 crore per year for
Megaprojects will be which is first-of-its-kind across the nation
The policy envisions Capex support of 25% up to Rs 50 crore for normal projects and Rs 200 crore for Mega Projects. Under the OPEX model, the government will provide support of 15% up to Rs 20 crore per year will be extended to boost IT investments in Gujarat,” the state government said in a statement.
In an effort to boost IT employment in Gujarat, the policy also provides two special employment generation incentives to upcoming IT companies. A one-time investment upto Rs 60,000 per employee to be provided by the state government to upcoming IT companies and 75-100% of reimbursement of employer’s contribution to employee provident fund will also be provided for a period of five years.
The state government will also continue providing interest repayment at 7% on term loans upto Rs 5 crore and 100% reimbursement of Electricity Duty to all eligible IT/ITeS units.
Gujarat IT/ ITes policy also proposes to establish a Gujarat AI School / AI Center of Excellence with a view to provide industry-ready skilled talent for the IT Industry.
“Financial support up to Rs 50,000 per person through Direct Benefit Transfer (DBT) to the graduate students and working professionals for skill development has been proposed. Large-scale Information, Education and Communication (IEC) programs targeting school children and the general public for improving digital literacy and enhancing awareness of Information Technology,” the policy document states.
In a bid to provide easy access to office spaces to IT companies coming up in Gujarat, the policy proposes to facilitate the setting up of co-working spaces to enable any IT company to fast track their IT operations here. Besides, a rental subsidy of 50% up to Rs 10,000 per seat per month will also be extended to IT companies setting up under the Government facilitated infrastructure scheme.
The policy aims to increase Gujarat’s IT exports from Rs 3,000 crore a year to Rs 25,000 crore a year over the next three years and generate direct employment for 1 lakh persons.
Incentivizing the development of IT Cities and IT Townships with Capex support up to Rs 100 crore in addition to relaxations in regulatory & FCI norms have also been proposed.
The state has also proposed to provide capital expenditure support of 25% upto Rs 150 crore and a power tariff subsidy of Rs 1 per unit for a period of five years to set up data centres, in a bid to improve cloud-based infrastructure in the state.
Setting up of a cable landing station (CLS) will also be facilitated with a 25% Capex support of up to Rs 20 crore in addition to a power tariff subsidy of Rs 1 for a period of five years.
Gujarat chief minister Bhupendra Patel unveiled the policy document at a ceremony held at GIFT City Gandhinagar on Tuesday morning.
As part of the new policy, the state government has announced a capital expenditure support of upto Rs 200 crore for upcoming IT companies in the state, which was upto Rs 1 crore in the previous policy. This new policy will be in force for five years ie from 2022 to 2027.
“The policy introduces a unique concept of Capex-Opex model. As part of this, Capex support of 25% upto Rs 50 crore will be extended for small to medium-sized projects and Rs 200 crore for mega projects will be provided.
Over and above this, operating expenditure support of 15% upto Rs 20 crore per year for small to medium-sized projects and Rs 40 crore per year for
Megaprojects will be which is first-of-its-kind across the nation
The policy envisions Capex support of 25% up to Rs 50 crore for normal projects and Rs 200 crore for Mega Projects. Under the OPEX model, the government will provide support of 15% up to Rs 20 crore per year will be extended to boost IT investments in Gujarat,” the state government said in a statement.
In an effort to boost IT employment in Gujarat, the policy also provides two special employment generation incentives to upcoming IT companies. A one-time investment upto Rs 60,000 per employee to be provided by the state government to upcoming IT companies and 75-100% of reimbursement of employer’s contribution to employee provident fund will also be provided for a period of five years.
The state government will also continue providing interest repayment at 7% on term loans upto Rs 5 crore and 100% reimbursement of Electricity Duty to all eligible IT/ITeS units.
Gujarat IT/ ITes policy also proposes to establish a Gujarat AI School / AI Center of Excellence with a view to provide industry-ready skilled talent for the IT Industry.
“Financial support up to Rs 50,000 per person through Direct Benefit Transfer (DBT) to the graduate students and working professionals for skill development has been proposed. Large-scale Information, Education and Communication (IEC) programs targeting school children and the general public for improving digital literacy and enhancing awareness of Information Technology,” the policy document states.
In a bid to provide easy access to office spaces to IT companies coming up in Gujarat, the policy proposes to facilitate the setting up of co-working spaces to enable any IT company to fast track their IT operations here. Besides, a rental subsidy of 50% up to Rs 10,000 per seat per month will also be extended to IT companies setting up under the Government facilitated infrastructure scheme.
The policy aims to increase Gujarat’s IT exports from Rs 3,000 crore a year to Rs 25,000 crore a year over the next three years and generate direct employment for 1 lakh persons.
Incentivizing the development of IT Cities and IT Townships with Capex support up to Rs 100 crore in addition to relaxations in regulatory & FCI norms have also been proposed.
The state has also proposed to provide capital expenditure support of 25% upto Rs 150 crore and a power tariff subsidy of Rs 1 per unit for a period of five years to set up data centres, in a bid to improve cloud-based infrastructure in the state.
Setting up of a cable landing station (CLS) will also be facilitated with a 25% Capex support of up to Rs 20 crore in addition to a power tariff subsidy of Rs 1 for a period of five years.
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