Chief Minister of Gujarat, Bhupendra Patel has announced a new IT/ITeS policy for the next five years. This policy will provide financial incentives up to Rs 200 crore to the entities willing to incur capital expenditures. It will also generate employment of about 1 lakh youths. It also seeks to increase IT-ITeS exports from the current Rs 3000 crores annually to 25,000 crores over the next five years. Its operative period will start from the day of notification to 31st March 2027.
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About the policy:
The policy launched at a formal event at a club in GIFT City in Gandhinagar replaces the 2016-2021 policy that had set an ambitious target to increase exports up to USD two billion (Rs 13,000 crore), IT turnover to USD 15 billion (Rs 75,000 crore) and create 10 lakh direct jobs. The policy provides support for both capital (CAPEX) and operational (OPEX) expenditures. “This is a unique model that gives flexibility to industries to plan their expenditures and addresses the viability concerns.
Important takeaways for all competitive exams:
- Gujarat Capital: Gandhinagar;
- Gujarat Governor: Acharya Devvrat;
- Gujarat Chief minister: Bhupendrabhai Patel.