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Telangana gets ambitious with IT
The new IT policy also offers special incentives for SMEs and mid-scale companies as well as to women, SC and ST entrepreneurs.
Hyderabad: Telangana government on Monday unveiled ambitious Information and Communication Technology (ICT) Policy Framework 2016 which would see doubling of software exports from current Rs 68,232 crore to about Rs 1.36 lakh crore in five years.
The newly-created State has also set a target to create 4 lakh new IT jobs and turn three new tier-II cities such as Karimnagar, Nizamabad and Warangal as IT hubs.
Apart from the IT policy, the government has also announced four subsidiary policies in the area of innovation, rural technologies, electronics as well as gaming and animation. All these form part of the ICT Policy Framework which focus on 10 thrust areas which include expansion of IT/ITeS units, electronics, entrepreneurship, skilling, procurement of IT products and services by the government, new initiatives, E-governance and M-governance, digital Telangana, promotions and enhanced quality of living.
“The new state of Telangana has come into being just over a year ago. In this short span of time, we have witnessed some landmark decisions the likes of which have never been seen before. Telangana currently stands second position in the country’s IT landscape and aspires to establish itself as a leader in the sector,” the government said in the policy document.
To achieve the targets set in the new IT policy, the State government, which unveiled the IT policy at a mega event attended software luminaries including Infosys founder N R Narayana Murthy, has come out with a slew of incentives.
The incentives applicable to all IT companies include 100 per cent reimbursement on first transaction and 50 per cent reimbursement on second transaction of stamp duty, transfer duty and registration duty except for mega projects involving Rs 200 crore investment or with potential to employ over 1000 people. In case of power tariff, the incentives given to IT companies are same as those in the Telangana industrial policy or TS-iPASS. Besides, the government also provides reimbursements in the case of patent filing and quality certifications.
For the mega projects, government will offer 10 per cent capital subsidy or Rs 25 lakh whichever is lower on installation of solar power generation unit of greater than 100 kW. Recruitment assistance and other incentives are also on offer.
To encourage research & development, the government will provide R&D grants to the tune of 10 per cent of overall R&D expenses of the company’s Telangana operations.
In addition, the government has announced additional incentives for those companies which will invest in tier-II locations. They include reimbursement of municipal taxes for first three years and workforce development funds. BPOs will also get 50 per cent investment subsidy on fixed capital investment.
The new IT policy also offers special incentives for SMEs and mid-scale companies as well as to women, SC and ST entrepreneurs.
