JOIN USTo strengthen the thriving information technology (IT) sector in Karnataka, the state government on Tuesday announced a “Karnataka i4 Policy” that has in store a slew of incentives that include concessional space for start-ups, speedy clearance of projects and exemption of IT companies from some industrial norms and concessional power.
A unique feature of the i4 policy (IT, IteS, Innovation, Incentives Policy) is the employment-linked incentivisation of land allotment (E-LILA) outside urban Bangalore and rural district limits, which consists of land allotment for IT/ITeS, animation-CGI/knowledge-based industries at concessional price, linked to employment generation.
The policy was unveiled by Karnataka Chief Minister Siddaramaiah at the inauguration of the 16th edition of Bangalore's IT event that has been renamed as “BangaloreITE.biz” this year.
Union Minister for Science & Technology and Earth Sciences S Jaipal Reddy and State Minister for IT, BT and ST, Planning and Statistics S R Patil, Chief Secretary, Government of Karnataka, S V Ranganath, Chairman of Karnataka's Vision Group on IT and Infosys Executive Vice-Chairman S Gopalakrishnan, attended the inauguration of the event.
Another aspect of the i4 policy is the treatment of IT/ITeS, animation-CGI/knowledge-based industries on par with public utilities to exempt them from strikes and bandhs.
These industries shall also be entitled to stamp duty exemption of 75 per cent in Mysore and Mangalore, apart from other locations. The industries will be exempt from applicability of Karnataka Industrial Employment Rules for five years starting from November 1, 2013.
The policy also provides for creation of “Brand Bangalore 3.0” and “Bangalore First Fund” to promote the city on the lines of India Brand Equity Fund.