MP govt looking for IT investors

Madhya Pradesh government has geared up to explore new possibilities of investments, availability of manpower and IT infrastructure required for the upcoming IT investments in the State. Recently, an IT investors meet focusing on Madhya Pradesh was held in Delhi. The meet was organized by PHD Chamber of Commerce and Industry. This first of its kind initiative was taken by the newly formed IT committee of the PHD chamber.

The meet was attended by J Satyanarayana, secretary, department of electronics and information technology, Government of India, while urging IT players and members of PHD Chamber to become partners of the State and walk hand in hand with the Government of Madhya Pradesh for placing it on the global IT map.

Over the last many years, IT/ITeS companies are expanding their base into tier-2 cities. Bhopal, Indore and Gwalior in Madhya Pradesh have gained the status of ideal destinations for investors who are keen to invest in the state. As these cities offer low cost of operation, cheaper land, availability of quality manpower, low cost of living and good social and physical infrastructure; these are the few examples that will attract IT industries to invest in Madhya Pradesh.

According to Hari Ranjan Rao, secretary, information technology, Government of Madhya Pradesh and MD, MP State Electronics Development shared the detailed IT scenario in Madhya Pradesh and invited all the IT companies present in the meet to Gwalior.

Speaking on the various incentives, L K Tiwari, additional chief general manager, Madhya Pradesh State Electronics Development said, "Electronic Hardware Manufacturing industry is eligible for all incentives available under IT Policy." He stressed, "The members of PHD Chamber, who deal in electronics, would be interested to invest. The incentives will be in addition to the incentives available under EMC scheme."

He further stressed on financial incentives on investing in the state. The reimbursement of central taxes and duties (like custom duties, excise duties and service tax) for 10 years in selected high-tech units like fabrics, semiconductor logic and memory chips, LCD fabrication will be considered.

Appreciating the Madhya Pradesh Government's stand, Sanjeev Gupta, chairman, IT committee, PHD Chamber of Commerce & Industry congratulated the government officials for simplifying the process of investing in Madhya Pradesh. "The harmony between industry and government officials will be beneficial for the investors and IT sector will create better job opportunities," he said. In the meet, the upcoming IT parks in his city was also highlighted and people were ensured friendly administration for all the potential investors in the IT sector.

First Published in The DQ Week http://www.dqweek.com/dq-week/news/187563/madhya-pradesh-govt-looking-it-investors