New IT policy for budding Goan entrepreneurs

The Goa Government’s Information Technology Investment Policy (IT) is likely to stress on reserving land for young and budding Goan IT players, besides providing tax rebate for a period of five to ten years.

The draft IT policy unveiled on May 23, had proposed to make Goa an Animation, Visual Effects, Gaming, Comics (AVGC) hub. The State has proposed 100 per cent reimbursement in stamp duty, electricity duty, central sales tax, entry tax along with 10 per cent reimbursement on salaries paid to the local employment up to 80 per cent.

The policy, kept open for public suggestions and objections for nearly a month, received an overwhelming response, with IT players proposing a series of suggestions, in a bid to encourage young Goan IT players.

Speaking to Herald, IT chairman Subhash Phaldesai said the government has constituted an Expert Advisory Committee, with technocrats and stalwarts from the Indian IT industry, to study the suggestions and incorporate them while preparing the final policy document.

The advisory body has senior officials from the National Association of Software and Services Companies (NASSCOM), Manufacturers Association for Information Technology and several IT hardware manufacturers.

The final document will be placed before the Core-Committee headed by IT Minister Francis D’Souza for its nod. “The final policy document will be out within next one month,” Phaldesai said.

He added that the government has received some crucial suggestions, wherein IT players have demanded that some land be reserved for young State IT entrepreneurs, special incubation centers and also that the land be made available free of cost to local players. “We are studying these suggestions. We can consider reserving land for local players and also providing some tax rebate,” he said.

IT players are also seeking additional incentives if the company provides 80 per cent employment to locals.

The Draft IT policy, speaks about making Goa the most preferred destination for investors in the sectors of IT, Information Technology Enabled Services (ITES) and Electronics System Design and Manufacturing (ESDM), a vibrant industry leading to inclusive growth and employment generation.

Government has proposed setting up of Electronic Manufacturing Cluster (EMC) in Tuem and an IT Park at Chimbel

GOITWAY