Bhubaneswar, Aug 26: The Odisha Cabinet on Monday approved several key proposals including the launching of the Electronics Component Manufacturing Policy, 2025.

The decision was taken during the Cabinet meeting held under the chairmanship of Chief Minister Mohan Charan Majhi here on Monday.

Speaking to media persons, Chief Secretary Manoj Ahuja on Monday said that following the Union Cabinet’s recent approval of the Electronics Component Manufacturing Scheme (ECMS), the Odisha Government has decided to launch its own Odisha Electronics Component Manufacturing Policy-2025.

As per an official press statement: “The policy offers a comprehensive incentive framework that includes fully matching the central government's Electronics Component Manufacturing Scheme (ECMS) support. Investors may opt for a 50 per cent capital subsidy for the first ten large-scale projects or select a matching subsidy along with turnover-linked incentives and additional capital subsidies.”

The investors will also receive various other benefits in land allocation, rental assistance, a ten-year exemption from electricity duty, and power tariff reimbursements, etc.

The policy launched by the state government also includes special provisions for mega projects investing over Rs 500 crore or generating over 1,000 jobs, offering them tailored incentives.

The Odisha government also noted that the policy is a significant strategic push to position Odisha as a leading electronics manufacturing hub, aiming to generate high-skilled employment opportunities while reducing India's reliance on imported electronic components.

In another significant decision, the state Cabinet in its meeting on Monday also gave its nod to the improved new Odisha IT Policy, 2025.

The state government claimed that the new IT policy has been formulated to create both direct and indirect employment opportunities for 10 lakh people in the IT/ITES sector over the policy period.

Chief Secretary Ahuja also stated that under the previous IT Policy of 2022, firms planning to establish IT Parks or set up IT industries in Odisha were granted a 25 per cent capital subsidy, capped at Rs 20 crore.

However, under the new policy, IT companies will receive a 30 per cent subsidy with no upper limit. “It focuses on fostering technological innovation through R&D, integration of Al across sectors and collaboration with academia and startups while developing world-class infrastructure such as IT parks, IT Towers and SEZs.

"The policy promotes emerging technologies such as Cyber Security, Data Analytics, 5G/Mobile Tech, IoT, AR/VR, Cloud Computing, Deep Learning, Blockchain, Al, and ML,” informed the state government in a press note.

The state government under the new policy is offering a wide range of business-friendly incentives, including capital and interest subsidies, land and rental support, and SGST reimbursement, etc.

The policy also includes specific incentives for large and mega IT investments, recruitment support, a single-window clearance system, and partnerships with global companies further enhance the ease of doing business in the state.

“A Policy Advocacy & Vision Group (PAVG), comprising experts from academia, industry, and research, will serve as a think tank to guide policy execution. The Odisha Computer Applications Centre (OCAC) will act as the Nodal Agency, while the E&IT Department will conduct regular reviews and make mid-course corrections as needed,” added the state government.

(IANS)

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