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Odisha govt showcases investment opportunities to IT sector

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Press Trust of India Bhubaneswar
The Odisha government on Tuesday organised an investement meet in New Delhi to showcase business opportunities for the electronics and IT (E&IT) and startup sectors in the state.
The meeting was part of the state's initiative to connect with potential investors in the lead up to the third edition of the biennial investment conclave, 'Make in Odisha', scheduled from November 30 to December 4 this year, a statement said.
State's industries and MSME secretary Hemant Sharma said Odisha is known to be one of the first states to get the top four IT companies to set up their centres on its turf.
"Our next phase is to ramp up information technology (IT) and ITes (IT enabled services)," he said.
The roadshow focused on how the state has been growing and attracting investments in the IT and electronics sector.
Speaking at the programme, Dr Nitin Jawale, Managing Director, Industrial Promotion and Investment Corporation of Odisha (IPICOL) said the state has progressed in terms of industrialisation.
Recognising the importance of Electronics System Design and Manufacturing, the government has announced a special incentive package scheme, he said.
E&IT secretary Manoj Mishra said Odisha is en route to emerge as one of the "most favoured destinations for IT and electronics investments".
The government has recast its existing Information & Communications Technology (ICT) policy, he said.
In the reformulated policy, the government is offering reimbursement of the Goods and Services Tax (GST), both to new and existing units, he said.
Post the policy amendment, new units in IT, ITes and ESDM verticals can avail reimbursement on state GST for five years from the date of commercial operations, Mishra said.
Existing units can also avail the benefit if they opt for modernisation and expansion, but it would only apply to enhanced production over and above the current rated capacity and limited to 100 per cent of the additional cost of plant and machinery, he said.
The state has recently engaged foreign investors from Japan, Korea, Germany, UAE, Saudia Arabia, USA and Singapore, the statement added.

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First Published: Jan 28 2020 | 9:40 PM IST

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