The State Cabinet meeting chaired by Chief Minister Shivraj Singh Chouhan here on Monday approved amendment in Madhya Pradesh IT Investment Policy-2012 and draft of new BPO/BPM Industrial Investment Policy-2014. This initiative has been taken in the backdrop of Global Investors Summit to be held in Indore
Provisions pertaining to exemption/incentives have been amended in Madhya Pradesh IT Investment Policy-2012. As per the amendment, actual cost of getting quality certification (ISO-9001 or higher) by IT units functioning in Madhya Pradesh may be reimbursed. Slab of land given on concessional rates as per project’s cost has been decreased from four to two.
It will be mandatory for electronic hardware manufacturing units to make available jobs to 50 engineers/IT/ITES professional per acre.According to the amendments, an investor with permission from appropriate authority will be able to give to a third party for IT activities some part of building constructed on leased land or space on license basis.
New IT companies setting up their unit costing upto Rs10 crore will be entitled to interest subsidy worth Rs4 lakh per annum and 5 per cent subject to maximum seven years. A new IT company with upto Rs10 crore investment will be entitled to 25 per cent capital subsidy for once. New IT companies will be given incentive assistance in two categories after adjustment of input tax rebate on VAT and central sales tax.
IT companies will be entitled to 50 percent reimbursement of subsidy on participating in prestigious national/ international seminars and exhibitions and actual rent paid for putting up stall there once in a year.This police will remain in force till 2019 or announcement of a new policy.
Under new BPO/BPM Industrial Investment Policy-2014, except for few facilities, remaining facilities will be made available as per amended Information Technology Investment Policy-2014.As per it, the State Government will identify small plots for BPO/BPM industries. At the same time, decision will also be taken to construct buildings for plug and play facilities. State government will identify such activities which can be outsourced to BPO/BPM industries operating in Madhya Pradesh.
New BPO/BPM industries will be entitled to subsidy at the rate of Rs11 per square feet per month of corporate area on renting building to run their centres.