Odisha approves new IT, Electronics Component Manufacturing policies

Bhubaneswar, Aug 25 (PTI) To attract investment, the Odisha government on Monday approved Electronics Component Manufacturing Policy and IT Policy, an official said.

The state cabinet meeting, chaired by Chief Minister Mohan Charan Majhi, this evening has approved the two policies.

The Electronics Component Manufacturing policy aims to generate high-skilled employment opportunities while reducing India's reliance on imported electronic components, said chief secretary Manoj Ahuja.

The policy offers a comprehensive incentive framework that includes fully matching the central government's electronics component manufacturing scheme (ECMS) support, he said.

Under the policy, investors can avail a 50 per cent capital subsidy for the first 10 large-scale projects or select a matching subsidy along with turnover-linked incentives and additional capital subsidies, Ahuja said.

The state will provide a 35 per cent capital subsidy for the 11th onward projects, the chief secretary said.

Other key benefits include land allocation, rental assistance, a 10-year exemption from electricity duty, and power tariff reimbursements. Special provisions have been made to cater to mega projects investing over Rs 500 crore or creating more than 1,000 jobs, he added.

Similarly, the Odisha IT Policy-2025 has been designed to create direct and indirect employment opportunities for one million people in the IT/lTeS sector over the policy period, Ahuja said.

To attract investments, the policy offers a wide range of business-friendly incentives such as capital and interest subsidies, land and rental support and state GST reimbursement, he stated.

The cabinet has also given post-facto approval on the appointment of three members of Odisha Public Service Commission (OPSC). PTI BBM BBM RG