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November 30, 2023

Gujarat CM Bhupendra Patel launches new IT Policy

By Priti Naik

Aiming to generate one lakh ‘high-skilled jobs’ in the sector in the next five years, Gujarat CM Bhupendra Patel launched a new Information Technology and IT enabled service policy. The new policy, which will remain in force till 2027, offers a range of financial incentives to new investors wanting to set up IT or ITeS units in the state.

The chief minister unveiled the policy document at a function held in GIFT City near Gandhinagar. Apart from generating one lakh jobs in the sector, the new IT/ITeS policy also aims to increase Gujarat’s IT-ITeS exports from the current Rs 3,000 crore annually to Rs 25,000 crore over the next five years, an eight-fold growth, it was stated. As per the release, the policy proposes a separate incentive structure for both capital expenditure (CAPEX) and operational expenditures (OPEX).

For an IT/ITeS project, the state government will provide CAPEX support of 25 per cent, in the limit of Rs 50 crore, which can go up to Rs 200 crore for a “mega project”. The OPEX support will range between Rs 20 crore and Rs 40 crore per year, depending on the size of the project.

The state government will provide CAPEX support of up to Rs 150 crore to set up a new data centre, and such centres will be eligible to get a power tariff subsidy of Rs 1 per unit for five years. Other key incentives include interest subsidy of 7 per cent for five years on the term-loan of up to Rs 5 crore and 100 per cent waiver on electricity duty for five years to all the eligible IT and ITeS units.

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