Bhopal (Madhya Pradesh): More than 100 suggestions have been received on the draft of Madhya Pradesh IT, ITeS and ESDM Investment Promotion Policy 2023.
The best of the suggestions and ideas will be incorporated in the final draft of the policy of the Madhya Pradesh science and technology department.
The objective of the proposed policy is to increase the flow of investments in the state in Information Technology Industry, ITeS and ESDM (Electronics System Design and Manufacturing.
The target of the policy includes creation of skilled IT and ESDM manpower. In next five years, the policy aims to create two lakh new jobs in IT, ITeS, ESDM sector in Madhya Pradesh and to attract the investment of Rs 10,000 crores in the sector.
It also aims at promoting research and development and innovation activities in the state to encourage investments by creating ready to use IT, ITeS workspaces, plug and play infrastructure and promote the use of co working spaces in the state, to ensure availability of land parcels at reasonable rates for the use of IT, ITeS and ESDM units.
One of the targets is creation of 10 million sqft state of the art IT parks, buildings, Plug and Play Spaces across the state. The policy strategy also envisions facilitating industries by up-skilling and providing industry ready workforce.
The policy validation period will be five years since notification. The proposed policy has come up with an assistance and incentive model.
Under the capital assistance model, the units which undertake the construction on private land or land leased from the government or government agencies in IT Parks and start their operation in the IT/ITeS sector will only be eligible for the capital assistance model. The other assistance models include Rental Assistance Model, CAPEX Assistance, Interest Assistance etc.
Policy Draft To Get Approval By month End
Principal Secretary for Science and Technology Department, Nikunj Shrivastava told Free Press that under the draft policy, capital subsidy has been increased and the policy includes a rental model. It will be one of the best policies of the country, said the officer, adding that by the end of the month, the draft policy will get approved.
