A subsidy ranging from Rs 10 crores to Rs 250 crores will also be provided to ESDM units based on their fixed capital investment
The Odisha State Cabinet has approved the Odisha Electronics Policy 2021 to stimulate the Electronics System Design and Manufacturing (ESDM) industry in the state.
The Cabinet was chaired by Chief Minister Naveen Patnaik. Through this policy, which will be in effect till 2026, the state government plans to promote Odisha as an attractive destination for the electronics industry.
A senior official from the state Electronics and Information and Technology department said the Policy has been conceptualized to position Odisha as an attractive destination for the Electronics industry by providing a congenial, industry friendly and proactive industrial climate with class leading infrastructure, supporting facilities and policy initiatives.
“These, coupled with a skilled workforce would create a favourable ecosystem for growth and development of the Electronics industry in Odisha,” the official added.
Among the various incentives under the policy, new investment and expansion can avail a production linked incentive (PLI) at 1 per cent of annual turnover for five years, starting from the year of commencement of production, for the first 10 investments.
A subsidy ranging from Rs 10 crores to Rs 250 crores will also be provided to ESDM units based on their fixed capital investment.
With respect to incentives on land, 100 per cent exemption of stamp duty and 50 per cent exemption on the second transaction will be provided. An additional subsidy of 10 per cent limited to Rs 1 crore will be provided to entrepreneurs who are women or from the SC/ST category or persons with disabilities.
There’s also a provision for an additional 25 per cent subsidy on lease rentals up to Rs 10 Lakhs per Annum for five years.
An apex committee chaired by the Chief Secretary will be formed to monitor the implementation with regard to the policy’s targets and objectives.
The Odisha Computer Applications Centre( OCAC) on behalf of the E&IT Department will be responsible for day-to-day monitoring of various activities under this policy.