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Gujarat Government forms a new IT policy to give a boost to IT/ITES sector

To increase the pace of development and to give a thrust to IT/ITES sector Gujarat government has formed a new IT policy 2016- 2021. Chief Minister Smt Anandiben Patel showed her determination to develop the IT sector in Gujarat Taking ahead PM’s Digital India Mission. Key highlights of the policy are mentioned below.

Key highlight:

Increase the investment by ten times in units related to IT/ITES service

Increase the turnover of IT/ITES industry to 15 million Euro dollars

Increase the export of IT/ITES sector by 2 billion USD (US Dollars)

To create employment opportunities for 1 million youth in IT sector

For deals concession will be given for registration fee, returns on Stamp duty, power tariff, VAT and electricity rate.

With a view to increase current investment in the sector, state government will provide capital subsidy upto Rs 25 crore to IT/ITes Park.

This new policy will attract more IT/ITES firms to Gujarat and take the development in the right direction. This policy will pay a key role in attracting investment, increasing units and developing IT parks in Gujarat. She stated Gujarat is leading in manufacturing sector but it is technology that is playing a key role and therefore state has to develop the IT sector. State is trying to make the best use of manpower through institutional planning with institutes like Nirma, CEPT, NID, IIT Surat and more.

It is predicted that innovations in the IT will drive the global value creation over coming decade. Such growth will be building around innovations in cloud, mobile, social media, big data analytics, crowd- sourcing internet-of-things (IoT) and mobile applications. The policy aims to increase the current investment in IT/ITeS sector by ten times, increase the turnover from Gujarat based IT/ITeS industry to USD 15 billion, increase IT export from the State to USD 2 billion, create direct employment opportunities in the sector to one million youths.

It is expected that investment in IT/ITeS industry will create an enabling environment and will also play the role of catalyst for the socio- economic development of the State.

The policy and associated scheme provides for capital subsidy of Rs. 25 crores for the IT/ITeS Park in addition to reimbursement of registration fees and stamp duty charges on land/ office transactions, incentives on power tariff as well as reimbursement of electricity duty for the IT/ITeS units. The policy provides for reimbursement of EPF contribution for the new employment created during the policy period. VAT incentives, capital

subsidy, interest subsidy, lease rental subsidy, reimbursement of registration

and stamp duty, incentives on power tariff and electricity duty.

The new policy lays special emphasis on the establishment of R & D institutes and school. This policy will increase the employment opportunities for the youth. Under this policy the IT companies will have to provide IT stipend to interns. For the speedy implementation of the policy Nodal agency is appointed as the director of IT.

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