Gujarat unveils new IT policy to create one lakh jobs
The policy that will remain in force for five years, i.e. from 2022 till 2027 offers a range of financial incentives to those wanting to set up IT or IT-enabled service units in Gujarat.
Gujarat Chief Minister Bhupendra Patel launches the new policy at GIFT City near Gandhinagar, Gujarat. Image via Twitter
Gujarat has announced new information technology (IT) and IT-enabled services (IT-ITeS) policy in order to create one lakh jobs in the sector during the next five years. The new policy, which will remain in force for five years, i.e. from 2022 till 2027, offers a range of financial incentives to new investors wanting to set up IT or ITeS units in the state, a release said.
New IT policy to up Gujarat’s annual exports
Gujarat Chief Minister Bhupendra Patel unveiled the policy document at a function held in GIFT City near Gandhinagar. The new policy also aims to increase Gujarat’s IT-ITeS exports from the current INR 3,000 crore annually to INR 25,000 crore over the next five years.
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 INR 50 crore, which can go up to INR 200 crore for a “mega project”, the release said.
Under the Employment Generation Incentive (EGI) component of the policy, the government will provide to the employer unit a special annual incentive of up to INR 50,000 for men and INR 60,000 for women employees.
Gujarat to set up AI school to prepare skilled manpower for IT sector
Employers will get 100 per cent refund for EPF contribution for women employees, while the ratio will be 75 per cent for men, the release said. As per the policy document, the state government will also establish an artificial intelligence (AI) school or an AI Centre of Excellence to prepare skilled manpower for the IT sector.
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