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UP Eyes Rs One Lakh Cr Investment From Investors Summit

 Agencies |  2017-12-18 15:20:59.0  0  Comments

UP Eyes Rs One Lakh Cr Investment From Investors Summit

Bengaluru: Uttar Pradesh government held a 'Road Show' in the city eyeing big time investment from the IT and ITeS companies ahead of UP Investors Summit to be held at Lucknow on February 21 and 22.

The government is targetting to attract at least Rs one lakh crore investment during the Summit and expects to attract large investment from the sunrise sector.
Briefing reporters ahead of the Road Show, Additional Chief Secretary Sanjeev Saran said the UP government plans to primarily attract IT and Electronics sector companies in Bengaluru in addition to other focus sectors of the state like Food & Agro Processing, Civil Aviation, manufacturing, textiles and others.
Uttar Pradesh has one of the largest IT hubs at Noida and Greater Noida which have earned recognition as major IT/lTeS destinations in the country with 25 plus Special Economic Zones and Software Technology Parks.
The State plays host to major companies in the sector from countries across the world. To foster growth of the sector State government is planning IT Cities, IT Parks, SEZ's in Tier-Il & Tier Ill Cities like Kanpur, Gorakhpur, Meerut, Agra and Lucknow. The State government was aiming to facilitate all stages of IT/lTeS industry encompassing Start-ups/entrepreneurs, MSMEs and large IT/lTeS industry by providing best of the incentives with
conducive policy framework, he added. The UP Government just a week ago had come up with the new IT and
Start-up policy 2017. Under the policy, IT/ITeS units will be provided land on subsidised rates in the State on meeting certain employment generation requirements. The Policy extends other attractive fiscal incentives like Interest subsidy, Stamp duty exemption, electricity duty exemption, coupled with EPF incentives, guaranteed power supply and self-certification facility, the official said.
Additionally, the policy provides non-fiscal incentives to ease business for IT/BPO units in the State, which includes encouraging female work participation, marketing through Start up meta, hackathons, bootcamps, etc. With the special focus on flourishing start-ups & budding entrepreneurs in IT/lTeS sector, GoUP is establishing a corpus fund of Rs 1000 Crore. The IT/lTeS Start-ups in the State will be supported in patent filling and incubators, accelerators, Centre of Excellence will be encouraged to support Start-ups in IT/lTeS sector.

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