Odisha: Mohan Majhi Cabinet Approves Fresh Policies For Technology-driven Growth
Investors will be eligible for a 50 per cent capital subsidy for the first 10 large-scale projects or may opt for matching subsidies, turnover-linked incentives, and additional capital support
Bhubaneswar: In a major push to attract investments and boost employment, the Odisha government on Monday evening approved the ‘Electronics Component Manufacturing Policy’ and the IT Policy-2025, officials said. The decisions were taken at a state cabinet meeting chaired by Chief Minister Mohan Charan Majhi.
Chief secretary Manoj Ahuja said the ‘Electronics Component Manufacturing Policy’ is aimed at reducing India’s dependence on imports while creating high-skilled jobs in Odisha. The policy provides a comprehensive incentive framework, including full matching support to the Centre’s Electronics Component Manufacturing Scheme (ECMS).
Investors will be eligible for a 50 per cent capital subsidy for the first 10 large-scale projects or may opt for matching subsidies, turnover-linked incentives, and additional capital support. From the 11th project onwards, a 35 per cent subsidy will be provided. Other incentives include land allotment, rental assistance, a 10-year exemption from electricity duty, and power tariff reimbursements. Mega projects investing over Rs 500 crore or generating more than 1,000 jobs will receive special benefits.
The Odisha IT Policy-2025 targets the creation of one million direct and indirect jobs in the IT and ITeS sectors during its tenure. It offers investor-friendly provisions such as capital and interest subsidies, land and rental support, and reimbursement of state GST, Ahuja said.
The cabinet also accorded post-facto approval to the appointment of three members of the Odisha Public Service Commission (OPSC).
