The Odisha Cabinet approved the maiden Electronics Policy for the promotion of the electronics and electronics manufacturing sector in the state. The policy would significantly augment the availability of skilled manpower with a special focus on fostering a culture of research, innovation and entrepreneurship by building an ecosystem of interlinked academia-industry-professional-leaders. It also aims to give emphasis on MSME enterprises as the growth drivers of the economy.
According to the official reports, it stated that Odisha Electronics Policy 2021 has been conceptualized to position Odisha as an attractive destination for the electronics industry by providing a congenial, industry-friendly and proactive industrial climate with class-leading infrastructure, supporting facilities and policy initiatives.
Production-linked incentive at 1% of annual turnover for 5 years starting from the year of commencement of production for first 10 investments, on a first-come-first-serve basis. Fixed capital investment subsidy in Rs 10 crore to Rs. 250 crore range against fixed capital investment. Exemption of electricity duty and electrical inspection fees for a period of 5 years. Subsidy on power bill for a period of 5 years at 30 per cent limited to Rs 50 lakh per unit. 100% exemption of stamp duty and 50% exemption on the second transaction. Reimbursement of 100% of land conversion charges payable for converting land from agricultural use to industrial use.
Further additional subsidy of 10% of investment subsidy limited to Rs 1 crore will be provided to entrepreneurs who are women, SC/ST or persons with disabilities. Provision of an additional 25% subsidy on lease rentals up to Rs 10 lakh per annum for 5 years will be provided. Special incentives to units that employ local youths on their roll. Local Enterprises are eligible to get set preferences in public procurement as provided to the MSMEs, and startups. Green and self-power generating: 25% reimbursement on cleaner/greener production measures limited to Rs. 20 lakh per unit on the basis of certification by accredited certifying agencies. Recruitment assistance would be provided at Rs. 8000 per newly-recruited regular employee who are domiciles of Odisha with a maximum limit of Rs. 30 lakh for a period of 3 years. Additional Rs 2000 will be provided for the employees who are women, SC/ST or persons with disabilities. Eligible units shall be entitled to interest subsidy for timely payment at 5% per annum on term loan availed from public financial institutions/banks for a period of 6 years from the date of commencement of production.
