Uttarakhand News

Uttarakhand Govt to offer subsidy for IT and Electronics industries

Uttarakhand Govt to offer subsidies to IT and Electronics industries

In order to attract IT and Electronics companies to set up industries , Uttarakhand government has rolled out few concessions and subsidies. The state cabinet unanimously passed the IT and Electronics Policy in December. The policy will be in place for 10 years with a review every 3 years. According to the policy, the Uttarakhand state is categorized into two categories : hilly region and plain region. Moreover, setting up industries in hills will fetch more concession as compared to the plains.

Adding to that, Uttarakhand IT Secretary Deepak Kumar Gairola stated that for establishing industries in the  hill state, the government will offer subsidy up to 45% on the equipments and machineries in the  hilly areas as compared to 35% in the plains. Similarly, power generation system will get 20% subsidy in  hills and 10% subsidy in plains. Similar initiatives will also get 50% land subsidy in hills and 15-30% in plains.

Key Benefits for IT and Electronics Industries

  • 1oo% exemption in stamp duty for hilly and plain areas
  • 12% subsidy in loan in hills, 8% in plains
  • 100% exemption in electricity surcharge, 50% exemption in plains
  • 100% exemption in setting up mobile towers in hills, 50% in plains
  • 50% subsidy for setting up Effluent Treatment Plant (ETF)
  • Uttarakhand govt to provide 25% business for BPOs and KPOs

The government  is hopeful that these subsidies will encourage businesses and conglomerates to  consider investing in Uttarakhand. This will, in turn, help improve the state economy and create more job opportunities.