Post News Network
Bhubaneswar, Jan 25: The state government is considering provision of fiscal incentives to investors in the electronic systems design and manufacturing (ESDM) sector.
The decision comes in the wake of corporates from abroad choosing Orissa as an investment destination. Officials are set to finalise the packages, said sources in the IT department. The Union government and states such as Gujarat, Andhra Pradesh, and Karnataka are providing such incentives to attract major investors in the ESDM sector for the promotion of IT sector, sources pointed out.
The department of information and technology (DoIT) was asked at a high-level meeting held recently with Chief Secretary GC Pati to prepare guidelines on distribution of fiscal incentives to firms making large-scale investments in the ESDM sector, sources said. DoIT principal secretary G Srinivas presented at the meeting a detailed account of the incentives offered by Centre, according to officials.
Major investors in the IT sector, such as Global Investors from Silicon Valley and the California-based Plugg Corporation have shown interest in investing in the state, where work on establishing an infovalley and second infocity is in progress.
The Plugg Corporation is likely to invest `1,841 crore in a move with large-scale employment generation potential.
The investors are asking for around 30 per cent capital Incentive subsidy, but the state government is yet to take a final call on this, sources said.