Goa IT Investment Policy to Stay in Force till 2020

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The Goa government led by Laxmikant Parsekar made a formal announcement regarding the Goa Information Technology Investment Policy 2015. The policy is going to stay in effect till 2020. The policy had come about on December 31 with the aim of encouraging startups in Goa  as well as for creating employment opportunities for locals in the Information Technology and IT enabled services (ITES) sector.

The policy provides financial incentives for IT companies along with an official framework for startup companies. It also provides IT firms 100 per cent reimbursement on stamp duty, electricity duty, central sales tax, entry tax, 10 per cent reimbursement on salaries paid to the local employees.The formal policy notification is indicative of the government’s seriousness for attracting startups and electronic system design and manufacturing (ESDM) companies to Goa.

The director of information technology, Ameya Abhyankar, spoke about the formal release of the IT policy in December and stated that the state was interested in bringing in ten IT and ITES companies and five ESDM companies by 2020. He also stated that the policy would stay in force till March 31, 2020.

The state is intending to promote the ‘IT Anywhere’ concept and has also put forth proposals for the setting up of incubation centres for mentoring as well as assisting startup companies. Goa presently has two incubators which are operating in Assagao and Verna.The policy will aim at inviting animation, visual effects, gaming, comics startups into Goa citing the state’s culture, traditions and quality of life as added attractions.

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