18.10.12

UP's new IT policy


The Uttar Pradesh cabinet transferred 150 acres of land for setting up an IT Park in Lucknow and gave an in-principle approval to the new IT Policy. The new policy focuses on skill development and greater employability and speaks of setting up another IT Park and IT city in Agra, which is to be developed, along with Lucknow, as an IT hub in the state.
Earlier, the state government had ordered a revamp of UP’s existing IT policy and hired the services of management consultancy firm KPMG for drafting the new IT Policy. Among major provisions of the policy, the cabinet cleared proposals to offer a 5% interest subsidy to all new industries that are set up in UP and are a part of the IT sector. In an attempt to attract more industries into the state, the policy has also offered land at a 25% discounted price and special permission from the department of labour to run IT businesses seven days a week.
Pitted as a big pull, the state government has also offered to fund 75% of the employee provident fund and state employee insurance for all those IT companies who provide continuous employment for three years to at least 50% people who belong to UP. As part of the IT policy, and in a bid to promote UP’s growing IT industry outside the state, the state government has also proposed to host road shows where investors from Bangalore and Chennai will be invited.
During 2010-11, the state’s IT exports clocked about Rs 11,000 crore and this year it is likely to touch Rs 14,000 crore. With the new IT policy in place, the state government hopes to re-establish UP as one among the country’s top three IT exporters, a position it originally occupied.

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